Hardship Withdrawal definition

Hardship Withdrawal means the early payment of all or part of the balance in a Deferral Account(s) in the event of an Unforeseeable Emergency.

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Hardship Withdrawal means a withdrawal on account of hardship pursuant to Section 8.02(c).

Hardship Withdrawal means the withdrawal made by reason of a Hardship in accordance with the provisions of SECTION TEN.

Examples of Hardship Withdrawal in a sentence

• This Agreement shall be legally binding and irrevocable for both the Employer and the Employee while employment continues, except that the Agreement will be suspended for six months following distribution to the Employee by the Plan of a Financial Hardship Withdrawal.

• The taking of a Hardship Withdrawal under the provisions of paragraph 6.9 will impact the Participant's ability to make these contributions.

• Qualified Matching Contributions, Qualified Non-Elective Contributions and Elective Deferrals reclassified as Voluntary Contributions, plus the investment earnings thereon are only available for a Hardship Withdrawal prior to age 59 1/2 to the extent that they were credited to the Participant's Account as of the last day of the Plan Year ending prior to July 1, 1989.

• May make a Hardship Withdrawal for an Unforeseeable Emergency from the following accounts [Check one or more] ​ x(A)Employee Deferral Account.

• The appropriate documentation from a third party regarding the types and amounts of the expenses relating to the Financial Hardship Withdrawal, must be provided by Participants, as described in Section 7.11(b) of the Plan.

More Definitions of Hardship Withdrawal

Hardship Withdrawal means the withdrawal made by reason of a Hardship in accordance with the provisions of Section Ten.

Hardship Withdrawal means a distribution necessary to meet the immediate and heavy financial need of the Employee, the Employee’s Spouse, dependent (within the meaning of Code § 152) or, if elected in the Adoption Agreement, the Participant’s primary non-Spouse Beneficiary. Following any Hardship Withdrawal, a Participant’s Elective Deferrals and any After-Tax Contributions may be limited as provided in Article XI (In-Service Withdrawals and Loans) of the Plan, subject to any applicable provisions of the Code and Treasury Regulations.

Hardship Withdrawal means payment of a portion of a Participant's Account due to an unforeseeable emergency that results in severe financial hardship to the Participant as provided in Section 4.3.

Hardship Withdrawal means, with respect to Plan ------------------- Years beginning after December 31, 1988, a withdrawal of any

Hardship Withdrawal means a distribution from the Member Pre-Tax Subaccount of a Member in accordance with Section 10.6 made on account of an immediate and heavy financial need of the Member that is necessary to satisfy the financial need. Index

Hardship Withdrawal means the withdrawal made by reason of a Hardship in accordance with the provisions of Plan Section Ten.

Hardship Withdrawal. MODIFICATIONS: g) x Hardship distributions relating to medical, tuition, and funeral expenses of a Primary Beneficiary are permitted.