Qualified Reservist Distribution. When a Participant is eligible for a qualified reservist distribution as provided under Code section 72(t)(2)(G) and applicable guidance thereunder.
Qualified Reservist Distribution. 10.1 401(k)
Qualified Reservist Distribution. A “qualified reservist distribution” may be made from a qualified plan or an IRA by an individual ordered or called into active duty for a period of more than 179 days of active duty or for an indefinite period of time after September 11, 2001. The amount distributed may be recontributed to an IRA at any time during a two-year period after the end of active duty. The distribution is not subject to the 10% early withdrawal penalty if taken prior to age 59½.
Qualified Reservist Distribution. A Qualified Reservist Distribution is a distribution (1) from an IRA or attributable to elective deferrals under a 401(k) plan, 403(b) annuity, or certain similar arrangements, (2) made to an individual who (by reason of being a member of a reserve component as defined in section 101 of title 37 of the U.S. Code) was ordered or called to active duty for a period in excess of 179 days or for an indefinite period, and (3) that is made during the period beginning on the date of such order or call to duty and ending at the close of the active duty period. A 401(k) plan or 403(b) annuity does not violate the distribution restrictions applicable to such plans by reason of making a Qualified Reservist Distribution.
Qualified Reservist Distribution. A Qualified Reservist Distribution shall be allowed in accordance with Section 10.09 of the Basic Plan Document.
Qualified Reservist Distribution. Effective August 17, 2006, a Participant who is ordered or called to active duty after September 11, 2001 may take a Qualified Reservist Distribution if the following are satisfied:
Qualified Reservist Distribution. A Participant called to active duty after September 11, 2001 for a period that is either indefinite or to exceed 179 days and the Participant takes the distribution between the date of the call to active duty and the close of the active duty period. The distribution may be made only from amounts attributable to 401(k) deferrals and is exempt from the 10% income tax penalty that would otherwise apply if the Participant has not yet attained age 59 1/ 2. The PPA would further permit the Participant to repay the distribution to an XXX only (not to the plan) within two years after the end of the active duty period. This subsection (g) shall be effective to permit such distributions after the following date: (can be no earlier than September 11, 2001).
Qualified Reservist Distribution. A Participant may withdraw any part of his Vested Account resulting from Elective Deferral Contributions if such distribution meets the requirements to be a Qualified Reservist Distribution. 7)
Qualified Reservist Distribution. A Participant who is a Qualified Reservist as defined herein may request a Qualified Reservist Distribution, as defined by Section 72(t)(2)(G)(iii) of the Code from the vested portion of his Section 401(k) Contribution Account, except to the extent that a loan is secured thereby. A Participant is eligible to receive a Qualified Reservist Distribution if such Participant is an individual who is ordered or called to active duty after September 11, 2001, and if (i) the distribution is from the Participant’s Section 401(k) Contribution Account; (ii) the individual was (by reason of being a member of a reserve component, as defined in Section 101 of Title 37 of the United States Code) ordered or called to active duty for a period in excess of 179 days or for an indefinite period; and (iii) the Plan makes the distribution during the period beginning on the date of such order or call, and ending at the close of the active duty period.
Qualified Reservist Distribution. A Qualified Reservist Distribution may be made from a qualified plan or an IRA by an individual ordered or called into active duty for a period of more than 179 days of active duty or for an indefinite period of time after September 11, 2001. The amount distributed may be repaid to an eligible retirement plan at any time during a two-year period after the end of active duty. The distribution is not subject to the 10% early withdrawal penalty if taken prior to age 59½. Qualified Emergency Expense Under SECURE 2.0, an individual may take one penalty-free withdrawal of up to $1,000 every year for an unforeseeable or immediate financial need, which may be repaid to an eligible retirement plan during the three-year period beginning on the day after the date on which the distribution was received. Qualified Charitable Distribution (“QCD”) A QCD may be made from an IRA (other than an active SEP or SIMPLE IRA) and be excluded from income after the IRA owner has reached age 70½, if directly transferred to a qualifying charitable organization for up to a maximum of $105,000 per taxpayer. Under SECURE 2.0, a one-time distribution in the amount of $53,000 can be made to a charitable remainder annuity trust, unitrust, or charitable gift annuity. Both limits will be indexed each year. The amount excluded from income will be reduced by an amount equal to the aggregate amount, if any, of deductible IRA contributions made to the IRA since age 70½. The entire amount must otherwise be includable in income and otherwise tax deductible as a charitable contribution. The distribution may be used to satisfy the IRA’s required minimum distribution and is not subject to withholding.
