Deferred Compensation Unit

An Emergency Hardship Withdrawal provides for payment in the case of an unforeseeable emergency defined in the Plan as, severe financial hardship to the participant resulting from a sudden and unexpected illness or accident of the participant or of a dependant (as defined in 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 control of the participant.  The circumstances that will constitute an unforeseeable emergency will depend upon the application of the IRS rules and guidelines in each case.  An Emergency Hardship Withdrawal packet will need to be filled out and returned to the Deferred Compensation Office.

Withdrawals of amounts because of an unforeseeable emergency must only be permitted to the extent reasonably needed to satisfy the emergency need.

Please contact the Deferred Compensation Office for more information or to receive an Emergency Hardship Withdrawal packet.

To Contact a Deferred Compensation Technician: