Common use of Other Available Resources Clause in Contracts

Other Available Resources. A withdrawal shall not be treated as necessary to satisfy an immediate and heavy financial need of an Employee to the extent the amount of the withdrawal is in excess of the amount required to relieve the financial need or to the extent such need may be satisfied from other resources that are reasonably available to the Employee. This determination generally is to be made on the basis of all relevant facts and circumstances. The Employee’s resources include those assets of an Employee’s Spouse and minor children that are reasonably available to the Employee. However, property held for the Employee’s child under an irrevocable trust or under the Uniform Gifts to Minors Act shall not be treated as a resource of the Employee. The amount of an immediate and heavy financial need may include any amounts necessary to pay any federal, state, or local income taxes or penalties reasonably anticipated to result from the withdrawal. A withdrawal generally may be treated as necessary to satisfy a financial need if the Plan Administrator relies upon the Employee’s written representation, unless the Employer or Plan Administrator has actual knowledge to the contrary, that the need cannot reasonably be relieved:

Other Available Resources. A withdrawal shall not be treated as necessary to satisfy an immediate and heavy financial need of an Employee to the extent the amount of the withdrawal is in excess of the amount required to relieve the financial need or to the extent such need may be satisfied from other resources that are reasonably available to the Employee. This determination generally is to be made on the basis of all relevant facts and circumstances. The Employee’s 's resources include those assets of an Employee’s 's Spouse and minor children that are reasonably available to the Employee. However, property held for the Employee’s 's child under an irrevocable trust or under the Uniform Gifts to Minors Act shall not be treated as a resource of the Employee. The amount of an immediate and heavy financial need may include any amounts necessary to pay any federal, state, or local income taxes or penalties reasonably anticipated to result from the withdrawal. A withdrawal generally may be treated as necessary to satisfy a financial need if the Plan Administrator relies upon the Employee’s 's written representation, unless the Employer or Plan Administrator has actual knowledge to the contrary, that the need cannot reasonably be relieved:

Other Available Resources. A withdrawal shall not be treated as necessary to satisfy an immediate and heavy financial need of an Employee to the extent the amount of the withdrawal is in excess of the amount required to relieve the financial need or to the extent such need may be satisfied from other resources that are reasonably available to the Employee. This determination generally is to be made on the basis of all relevant facts and circumstances. The Employee’s resources include those assets of an Employee’s Spouse and minor children that are reasonably available to the Employee. However, property held for the Employee’s child under an irrevocable trust or under the Uniform Gifts to Minors Act shall not be treated as a resource of the Employee. The amount of an immediate and heavy financial need may include any amounts necessary to pay any federal, state, or local income taxes or penalties reasonably anticipated to result from the withdrawal. A withdrawal An immediate and heavy financial need generally may be treated as necessary not capable of being relieved from other resources that are reasonably available to satisfy a financial need the Employee if the Plan Administrator relies upon the Employee’s written representation, unless the Employer or Plan Administrator has actual knowledge to the contrary, that the need cannot reasonably be relieved: