How to Apply for a Hardship Withdrawal Sample Clauses

How to Apply for a Hardship Withdrawal. Before making an application for a hardship withdrawal, carefully read this Appendix. If you have any questions, such as the amount of your interest in the Plan which is available for a hardship withdrawal, you may call the Human Resources Department. If you believe that you qualify for a hardship withdrawal and have attempted to obtain funds from other sources as described above in paragraph 3, you may file a written application with the Committee. In your application, explain in your own words what your immediate and heavy financial need is, the amount of money required to meet that need and explain how you have attempted to obtain the funds from other sources (including each of those listed in paragraph 3) and have been unable to do so. If you are married, your husband or wife must consent to the hardship withdrawal on a form which you may obtain from the Human Resources Department and your husband or wife's signature must be witnessed by a notary public not employed by the Employer. When the Committee has received all necessary information, it will consider your application in an objective and nondiscriminatory manner under the rules of this Appendix, the Plan and applicable law and regulations. You will then be notified whether you qualify for a hardship distribution and the amount of that distribution. The Committee's decision is final. 6. Making a Hardship Withdrawal Will Affect Your Participation in the Plan. If you make a hardship withdrawal, you will be suspended from making before-tax (compensation deferral) contributions to the Plan for 12 months after you receive the withdrawal. The Plan provides that your before-tax contributions for each of your taxable years (normally the calendar year) are limited to $7,000, or a higher amount permitted by regulations issued by the Internal Revenue Service. For your taxable year following the year you receive a hardship withdrawal, the $7,000 (or higher) limit for contributions to the Plan is further reduced by the amount of your before-tax contributions during the year you made the hardship withdrawal Appendix C to California Water Service Company Savings Plan and Trust Agreement (1994 Revision) Top-Heavy Provisions
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