Unforeseen Emergency definition

Unforeseen Emergency means a severe financial hardship to the Participant resulting from a sudden and unexpected illness or accident of the Participant or of a dependent (as defined in Section 152(a) of the Internal Revenue Code) 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. The circumstances that will constitute an unforeseeable emergency will depend upon the facts of each case, but in any case, payment may not be made to the extent that such hardship is or may be relieved:

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Unforeseen Emergency means a fire, flood, explosion, storm, earthquake, riot, insurrection, community disaster, or act of God or a combination of the foregoing that acts as a principal cause for a school district's inability to conduct one or more scheduled school days.

Unforeseen Emergency 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(a)) 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 Participant, in each case within the meaning of Code Section 409A and the Treasury Regulations thereunder.

Examples of Unforeseen Emergency in a sentence

Any determination of the amount to be distributed on account of an Unforeseen Emergency shall be made by the Plan Administrator.
The Plan Administrator may pay all or a portion of a Member’s vested Account prior to the time it would otherwise be payable pursuant to this Plan,; provided, however, that any such distribution shall be made only if the Member is an Employee and demonstrates that he will suffer a financial hardship if he does not receive a distribution due to an Unforeseen Emergency determined to constitute a hardship by the Plan Administrator.
The Plan Administrator shall have the sole and absolute discretion to determine if an Unforeseen Emergency exists with respect to a Participant.
The Plan Administrator shall have the sole and absolute discretion to determine if a Unforeseen Emergency exists with respect to a Member.
Unforeseen Emergency payments shall be made to a Participant only in accordance with such rules, policies, procedures, restrictions, and conditions as the Plan Administrator may from time to time adopt.

More Definitions of Unforeseen Emergency

Unforeseen Emergency means a severe financial hardship to a

Unforeseen Emergency means an emergency that meets the provisions in Code section 457(b) and Treasury Reg. 1.457-6(c)(2b) as specified in Section 19 of these Bylaws.

Unforeseen Emergency means an event beyond the control of the Participant that would result in severe financial hardship to the Participant if early withdrawal of all or a portion of the Participant's account balance (as provided for in Section 6.1(b)) were not permitted. Whether a Participant has an Unforeseen Emergency shall be determined by the Committee.

Unforeseen Emergency means an immediate and heavy financial need resulting from

Unforeseen Emergency means a severe financial hardship within the meaning of IRC Section 409A to the Participant resulting from a sudden and unexpected illness or accident of the Participant, the Participant’s spouse or

Unforeseen Emergency means a severe financial hardship to a Member resulting from a sudden and unexpected illness or accident of a Member or of a dependent (as defined in Code Section 152) of the Member, loss of the Member’s property due to casualty or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Member. The circumstances that shall constitute an Unforeseen Emergency shall depend upon the facts of each case, but, in any case, payment may not be made to the extent Unforeseen Emergency is or may be relieved (a) through reimbursement or compensation by insurance or otherwise, or (b) by liquidation of the Member’s assets, to the extent the liquidation of such assets would not itself cause severe financial hardship. Examples of what would not be considered as an Unforeseen Emergency include the need to send a Member’s child to college or the desire to purchase a home. Any determination of the existence of an Unforeseen Emergency and the amount to be distributed on account thereof shall be made by the Plan Administrator (or such other person as may be required to make such decisions) in accordance with rules applied in a uniform and nondiscriminatory manner.

Unforeseen Emergency means a fire, flood, explosion, storm, earthquake, riot, insurrection,