Hardship and Unforeseeable Emergency definition

Hardship and Unforeseeable Emergency means a severe financial hardship to an Eligible Participant resulting from a sudden and unexpected illness or accident of the Eligible Participant or a dependent (within the meaning of Section 152(a) of the Code), of the Eligible Participant, loss of the Eligible Participant's property due to casualty, or other similar extraordinary and unforeseeable circumstances, arising from events beyond the Eligible Participant's control. Whether circumstances constitute a Hardship and Unforeseeable Emergency depends on the facts of each case, as determined by the Administrator, but in any case does not include a hardship that may be relieved:
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Hardship and Unforeseeable Emergency means a severe financial hardship to an Eligible Trustee resulting from a sudden and unexpected illness or accident of the Eligible Trustee or a dependent (within the meaning of Section 152(a) of the Code), of the Eligible Trustee, loss of the Eligible Trustee's property due to casualty, or other similar extraordinary and unforeseeable circumstances, arising from events beyond the Eligible Trustee's control. Whether circumstances constitute a Hardship and Unforeseeable Emergency depends on the facts of each case, as determined by the Administrator, but in any case does not include a hardship that may be relieved:
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Hardship and Unforeseeable Emergency means severe financial hardship to a Trustee resulting from a sudden and unexpected illness or accident of the Trustee, the spouse of the Trustee or a dependent (as defined in Section 152 of the Code, without regard to Section 152(b)(1, (b)(2), and (d)(1)(B) of the Code), of the Trustee, loss of the Trustee's property due to casualty, or other similar extraordinary and unforeseeable circumstances, arising from events beyond the Trustee's control. Whether circumstances constitute a Hardship and Unforeseeable Emergency depends on the facts of each case, as determined by the Board, but in any case does not include a hardship that may be relieved:
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Examples of Hardship and Unforeseeable Emergency in a sentence

  • The term "Hardship and Unforeseeable Emergency" shall have the same meaning as the term "unforeseeable emergency" as used in regulations issued under Section 457 of the Code, and shall be applied accordingly.

  • The need to send an Eligible Participant's child to college and the desire to purchase a home shall not constitute a Hardship and Unforeseeable Emergency.

  • Any such withdrawal shall be limited to an amount reasonably necessary to meet the Hardship and Unforeseeable Emergency, but not more than the amount of the Eligible Participant's Deferral Account.

  • An Eligible Participant may request at any time a withdrawal of part or all of the amount then credited to his Deferral Account on account of Hardship and Unforeseeable Emergency by submitting a written request to the Administrator accompanied by evidence that his financial condition constitutes a Hardship and Unforeseeable Emergency.

  • An Eligible Participant may ------------------------------------ request at any time a withdrawal of part or all of the amount then credited to his Deferral Account on account of Hardship and Unforeseeable Emergency by submitting a written request to the Administrator accompanied by evidence that his financial condition constitutes a Hardship and Unforeseeable Emergency.

  • This is clear evidence of the motivation and effectiveness of the client in implementing EFA-FTI.

  • Any such withdrawal shall be limited to an amount reasonably necessary to meet the Hardship and Unforeseeable Emergency, but not more than the amount of benefit to which the Eligible Trustee would be entitled if his service as trustee were terminated.

  • The need to send an Eligible Trustee's child to college and the desire to purchase a home shall not constitute a Hardship and Unforeseeable Emergency.

  • An Eligible Trustee may request at any time a withdrawal of part or all of the amount then credited to his or her Deferral Account on account of Hardship and Unforeseeable Emergency by submitting a written request to the Administrator accompanied by evidence that his or her financial condition constitutes a Hardship and Unforeseeable Emergency.

  • A Trustee may request at any time a withdrawal of part or all of the amount then credited to his or her Deferral Account on account of Hardship and Unforeseeable Emergency by submitting a written request to the Administrator accompanied by evidence that his or her financial condition constitutes a Hardship and Unforeseeable Emergency.


More Definitions of Hardship and Unforeseeable Emergency

Hardship and Unforeseeable Emergency means severe financial hardship to a Trustee resulting from a sudden and unexpected illness or accident of the Trustee, the spouse of the Trustee or a dependent (as defined in Section 152 of the Code, without regard to Section 152(b)(1, (b)(2), and (d)(1)(B) of the Code), of the Trustee, loss of the Trustee’s property due to casualty, or other similar extraordinary and unforeseeable circumstances, arising from events beyond the Trustee’s control. Whether circumstances constitute a Hardship and Unforeseeable Emergency depends on the facts of each case, as determined by the Board, but in any case does not include a hardship that may be relieved: (1) through reimbursement or compensation by insurance or otherwise; (2) by liquidation of the Trustee’s assets to the extent that liquidation itself would not cause such a severe financial hardship; or (3) by ceasing to defer receipt of any Compensation not yet earned. The term “Hardship and Unforeseeable Emergency” shall have the same meaning as the term “unforeseeable emergency” as used in Regulations and shall be applied accordingly. The need to send a Trustee’s child to college and the desire to purchase a home shall not constitute a Hardship and Unforeseeable Emergency.
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Hardship and Unforeseeable Emergency means a severe financial hardship to an Eligible Director/Trustee resulting from a sudden and unexpected illness or accident of the Eligible Director/Trustee or a dependent (within the meaning of Section 152(a) of the Code), of the Eligible Director/Trustee, loss of the Eligible Director/Trustee's property due to casualty, or other similar extraordinary and unforeseeable circumstances, arising from events beyond the Eligible Director/Trustee's control. Whether circumstances constitute a Hardship and Unforeseeable Emergency with respect to a Fund depends on the facts of each case, as determined by the Fund, but in any case does not include a hardship that may be relieved:
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Hardship and Unforeseeable Emergency means a severe financial hardship to an Eligible Trustee resulting from a sudden and unexpected illness or accident of the Eligible Trustee or a dependent (within the meaning of Section 152(a) of the Code) of the Eligible Trustee, loss of the Eligible Trustee's property due to casualty, or other similar extraordinary and unforeseeable circumstances,
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Hardship and Unforeseeable Emergency means a severe financial hardship to an Eligible Director resulting from a sudden and unexpected illness or accident of the Eligible Director or a dependent (within the meaning of Section 152(a) of the Code) of the Eligible Director, loss of the Eligible Director's property due to casualty, or other similar extraordinary and unforeseeable circumstances, arising from events beyond the Eligible Director's control. Whether circumstances constitute a Hardship and Unforeseeable Emergency depends on the facts of each case, as determined by each of MSIF and MSUF, but in any case does not include a hardship that may be relieved:
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Related to Hardship and Unforeseeable Emergency

  • Unforeseeable Emergency means a severe financial hardship of the Participant resulting from an illness or accident of the Participant, the Participant’s spouse, the Participant’s Beneficiary, or the Participant’s dependent (as defined in Code Section 152, without regard to Code section 152(b)(1), (b)(2) and (d)(1)(B); loss of the Participant’s property due to casualty; or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant.

  • Financial Hardship means a severe financial hardship to the Participant resulting from an illness or accident of the Participant, the Participant’s spouse, or a dependent (as defined in Code Section 152, without regard to Code Section 152(b)(1), (b)(2), and (d)(1)(B))) of the Participant, loss of the Participant’s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant, but shall in all events correspond to the meaning of the term “unforeseeable emergency” under Code Section 409A.

  • Hardship means deprivation, suffering, adversity, or long-term adverse financial impact in complying with the title plant requirement that is more than minimal when considering all the circumstances. Financial hardship alone may constitute a hardship.

  • Unforeseeable Financial Emergency means an unanticipated emergency that is caused by an event beyond the control of the Participant that would result in severe financial hardship to the Participant resulting from (i) a sudden and unexpected illness or accident of the Participant or a dependent of the Participant, (ii) a loss of the Participant's property due to casualty, or (iii) such other extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant, all as determined in the sole discretion of the Committee.

  • Maximum Emergency means the designation of all or part of the output of a generating unit for which the designated output levels may require extraordinary procedures and therefore are available to the Office of the Interconnection only when the Office of the Interconnection declares a Maximum Generation Emergency and requests generation designated as Maximum Emergency to run. The Office of the Interconnection shall post on the PJM website the aggregate amount of megawatts that are classified as Maximum Emergency.

  • COVID-19 emergency means the emergencies declared in the Declaration of Public Emergency (Mayor's Order 2020-045) together with the Declaration of Public Health Emergency (Mayor's Order 2020-046), declared on March 11, 2020, including any extension of those declared emergencies.

  • Financial Emergency means a situation wherein the Insured Person loses all or a substantial amount of his/her travel funds due to theft, robbery, mugging or dacoity, which has detrimental effects on his/her travel plans.

  • Undue hardship means an action requiring significant difficulty or expense, when considered in light of the following factors:

  • Hardship Distribution means a severe financial hardship to the Participant resulting from a sudden and unexpected illness or accident of the Participant or of his or her dependent (as defined in Section 152(a) of the Code), loss of a Participant’s property due to casualty, or other similar or extraordinary and unforseeable circumstances arising as a result of events beyond the control of the Participant. The circumstances that would constitute an unforseeable emergency will depend upon the facts of each case, but, in any case, a Hardship Distribution may not be made to the extent that such hardship is or may be relieved (i) through reimbursement or compensation by insurance or otherwise, (ii) by liquidation of the Participant’s assets, to the extent the liquidation of assets would not itself cause severe financial hardship, or (iii) by cessation of deferrals under this Plan.

  • System Emergency has the meaning set forth in the CAISO Tariff.

  • Unforeseeable means not reasonably foreseeable by an experienced contractor by the Base Date.

  • Medical emergency means a condition caused by an Injury or Sickness that manifests itself by symptoms of sufficient severity that a prudent layperson possessing an average knowledge of health and medicine would reasonably expect that failure to receive immediate medical attention would place the health of the person in serious jeopardy.

  • psychiatric emergency medical condition means a Mental Disorder that manifests itself by acute symptoms of sufficient severity that it renders the patient as being either of the following:

  • Public health emergency means an emergency with respect to COVID–19 declared by a Federal, State, or local authority.

  • Minimum Generation Emergency means an Emergency declared by the Office of the Interconnection in which the Office of the Interconnection anticipates requesting one or more generating resources to operate at or below Normal Minimum Generation, in order to manage, alleviate, or end the Emergency.

  • Local emergency means the duly proclaimed existence of conditions of disaster or of extreme peril to the safety of persons and property within the territorial limits of a county, city and county, or city, caused by such conditions as air pollution, fire, flood, storm, epidemic, riot, drought, sudden and severe energy shortage, plant or animal infestation or disease, the Governor’s warning of an earthquake or volcanic prediction, or an earthquake, or other conditions, other than conditions resulting from a labor controversy, which are or are likely to be beyond the control of the services, personnel, equipment, and facilities of that political subdivision and require the combined forces of other political subdivisions to combat, or with respect to regulated energy utilities, a sudden and severe energy shortage requires extraordinary measures beyond the authority vested in the California Public Utilities Commission.

  • National Financial Emergency means the whole or any part of any period during (i) which an emergency exists as a result of which disposal by the Trust of securities or other assets owned by the Trust is not reasonably practicable; (ii) which it is not reasonably practicable for the Trust fairly to determine the net asset value of its assets; or (iii) such other period as the Commission may by order permit for the protection of investors;

  • Maximum Generation Emergency means an Emergency declared by the Office of the Interconnection to address either a generation or transmission emergency in which the Office of the Interconnection anticipates requesting one or more Generation Capacity Resources, or Non- Retail Behind The Meter Generation resources to operate at its maximum net or gross electrical power output, subject to the equipment stress limits for such Generation Capacity Resource or Non-Retail Behind The Meter resource in order to manage, alleviate, or end the Emergency.

  • Likelihood of serious harm means either: (a) A substantial

  • Severe or "extraordinary" condition is defined as serious or extreme and/or life threatening.

  • the We Love Manchester Emergency Fund means the registered charity of that name (number 1173260) established on 30th May 2017;

  • QDRO means a qualified domestic relations order as defined in Section 414(p) of the Code or Title I, Section 206(d)(3) of ERISA (to the same extent as if this Plan were subject thereto), or the applicable rules thereunder.

  • Environmental emergency means a problem that a public body and the department agree poses a serious, imme- diate threat to the environment or to the health or safety of a community and requires immediate corrective action.

  • Maximum Generation Emergency Alert means an alert issued by the Office of the Interconnection to notify PJM Members, Transmission Owners, resource owners and operators, customers, and regulators that a Maximum Generation Emergency may be declared, for any Operating Day in either, as applicable, the Day-ahead Energy Market or the Real-time Energy Market, for all or any part of such Operating Day. Maximum Run Time:

  • Elective Deferrals are all Salary Reduction Contributions and that portion of any Cash or Deferred Contribution which the Employer contributes to the Trust at the election of an Eligible Employee. Any portion of a Cash or Deferred Contribution contributed to the Trust because of the Employee's failure to make a cash election is an elective deferral. However, any portion of a Cash or Deferred Contribution over which the Employee does not have a cash election is not an elective deferral. Elective deferrals do not include amounts which have become currently available to the Employee prior to the election nor amounts designated as nondeductible contributions at the time of deferral or contribution.

  • Excess Deferrals means, with respect to any taxable year of a Participant, either (a) those elective deferrals within the meaning of Code §§402(g) or 402A that are made during the Participant's taxable year and exceed the dollar limitation under Code §402(g) (including, if applicable, the dollar limitation on Catch-Up Contributions defined in Code §414(v)) for such year; or (b) are made during a calendar year and exceed the dollar limitation under Code §§402(g) and 402A (including, if applicable, the dollar limitation on Catch-Up Contributions defined in Code §414(v)) for the Participant's taxable year beginning in such calendar year, counting only Elective Deferrals made under this Plan and any other plan, contract or arrangement maintained by the Employer.