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Hardship Withdrawals

You may elect to receive a distribution of part of your Salary Reduction Contributions (not including any earnings on those contributions) in the event of financial hardship. Any request for a hardship distribution must be filed with the Board. You can obtain a copy of the Plan’s hardship withdrawal form by contacting the Board at (877) 767-7738.

A hardship distribution will be made only if the Board determines that you have an “immediate and heavy financial need,” and only to the extent that the distribution is “necessary” to satisfy that need.


An “immediate and heavy financial need” exists only in the following situations:

  • Uninsured medical expenses incurred by you, your spouse or your dependents
  • The purchase (excluding mortgage payments) of your principal residence
  • Tuition payments for the next 12 months of post-secondary education for you, your spouse, or your children or dependents
  • The need to prevent eviction from your principal residence or foreclosure on the mortgage on your principal residence
  • Payment of funeral or burial expenses for your spouse, your children, or other dependents
  • Payment for expenses for the repair of damage to your home caused by catastrophic events, such as floods, hurricanes or tornados


A distribution is “necessary” to satisfy an immediate and heavy financial need if the following requirements are met:

  • The amount of the distribution cannot be in excess of the amount of the immediate and heavy financial need
  • You must have obtained all distributions and nontaxable loans available under this Plan and all other plans maintained by your employer, if any
  • You will not be allowed to make Salary Reduction Contributions under this Plan, nor will you be allowed to make elective contributions or employee contributions under any other plan of your employer (excluding health or welfare benefit plans) for at least 6 months after receiving any hardship distribution
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