Requirements for hardship withdrawal 401k
[DOCX File]INITIAL QUALIFICATION FOR 401(K) SALARY SAVINGS PLAN
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requirements during that first measuring period, you will be credited with a year of service if you work 1,000 hours during the Plan Year. ... Note: Salary deferral contributions are suspended for 6 months after a hardship withdrawal is processed. You may withdraw any part of your vested account resulting from Rollover Contributions. Additional ...
[DOC File]Virginia Hospital Center 401(k) Retirement Program
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- In-service withdrawal of your rollover contribution. You may be eligible to receive a hardship withdrawal from the Virginia Hospital Center 401(k) Salary Reduction Plan and Trust. See your Summary Plan Description for more details about taking withdrawals from the plan.
[DOC File]SUMMARY PLAN DESCRIPTION
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You will be required to provide information specific to the hardship reason selected; you must retain documentation required to substantiate your hardship as the Plan reserves the right to request copies of such documentation. The minimum hardship withdrawal is $500.
[DOC File]Distributions from Qualified Plans
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Hardship Withdrawals – The plan must define hardship in objective terms, subject to the hardship withdrawal rules under 401(k). The distribution must be made on account of an immediate and heavy financial hardship and must not exceed the amount needed to satisfy the financial need. Treas. Reg. §1.401(k)-1(d)(3).
[DOC File]Sample Participant Notice - Capital Group
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[For plans that offer hardship withdrawals. Customize to match your plan’s provisions:] Under certain circumstances, you may be able to take a withdrawal from certain accounts if you have a hardship. However, there are various rules and requirements that you must meet before any withdrawal is …
[DOCX File]SUMMARY PLAN DESCRIPTION
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Hardship withdrawals may be made once in a twelve-month period and will be paid as soon as practical following receipt of all information necessary to make payment. You will be suspended from making Elective Contributions to this Plan or any other qualified or non-qualified plan(s) of your Employer for six months following the hardship withdrawal.
[DOC File]SAMPLE PROFIT SHARING PLAN
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A hardship distribution can only be made if there is an immediate or heavy financial need. In addition to the expenses listed above, a hardship distribution can be made to pay any federal, state, or local income taxes or penalties reasonably anticipated to result from a hardship distribution.
[DOC File]Benefit Administration Company, Benefit Administration ...
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If you take a hardship distribution attributable to Elective Deferral Contributions, your Elective Deferral Contributions to the Plan and any other plan sponsored by the Employer or an affiliate, as well as after-tax contributions, will be suspended for a period of 6 months following the date the distribution is taken, unless your Employer ...
[DOC File]EACA/QACA Amendment
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(d) No deferrals during hardship suspension. The Plan does not apply the Automatic Deferral during the period of suspension, under the Plan's hardship distribution provisions, of Participant's right to make Elective Deferrals to the Plan following a hardship distribution. 4.5 Safe harbor notice.
[DOC File]SAFE HARBOR MATCHING CONTRIBUTION NOTICE
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Hardship withdrawal: Hardship withdrawals must be for a specified need – for qualifying medical expenses, costs related to your principal residence (purchasing of, preventing eviction from or foreclosure on your principal residence, or repairing qualifying damages to such principal residence), qualifying post-secondary education expenses, qualifying burial or funeral expenses, or …
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