Examples of Unforeseeable Financial Emergency in a sentence
The Administrator shall take such steps as appropriate to coordinate Unforeseeable Financial Emergency distributions, including collection of information from Fund Sponsors, and transmission of information requested by any Fund Sponsor.
The Participant’s distribution request shall specify the reason for the Unforeseeable Financial Emergency and specify the amount the Participant wishes to withdraw to meet the need caused by the Unforeseeable Financial Emergency.
Any distribution made because of the Participant’s Unforeseeable Financial Emergency shall not exceed the amount reasonably necessary to relieve the Participant’s need, including any anticipated taxes or penalties associated with such distribution.
The Administrator may charge a reasonable fee for processing Unforeseeable Financial Emergency distributions.
A distribution on account of Unforeseeable Financial Emergency shall not be made to the extent that such emergency is or may be relieved through reimbursement or compensation from insurance or otherwise, by liquidation of the Participant’s assets to the extent the liquidation of such assets would not itself cause severe financial hardship, or by cessation of Elective Deferrals under the Plan.