Common use of HARDSHIP DISTRIBUTIONS FROM TAX DEFERRED ACCOUNT Clause in Contracts

HARDSHIP DISTRIBUTIONS FROM TAX DEFERRED ACCOUNT. The Employer must elect in Adoption Agreement Section 6.03 whether a Participant may receive hardship distributions from his Tax Deferred Account prior to the Participant's Separation from Service. Hardship distributions from the Deferral Contributions Account must satisfy the requirements of this Section 14.11. A hardship distribution option may not apply to the Participant's Basic Contributions Account or Qualified Matching Contributions Account.