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  2. Participants must submit hardship requests by completing a Hardship Distribution Request form, which they can access online or by contacting a Service Center Representative. Participants must also provide: Documentation proving that their request meets the definition of immediate and heavy financial need.
    www.empower.com/psc/plan-resources/resources/…

    Hardship Withdrawal Certification The Internal Revenue Code (the "Code") imposes restrictions on the availability of before-tax monies from §401(k) plans until the occurrence of one of the following: attainment of age 59 1/2; or severance of employment (due to total disability, retirement or otherwise); or financial hardship as determined under present or future IRS regulations (if allowed by the Plan); or death of participant;...

    plan.empower-retirement.com/static/InstMetLife/ht…

    Hardship withdrawals are currently allowed for one of the following reasons:

    • Medical expenses incurred by the participant or the participant’s spouse, dependents or beneficiaries.
    www.empower.com/the-currency/work/what-is-a-40…

    Adhere to the instructions below to complete Empower hardship withdrawal form online quickly and easily:

    • Log in to your account. Sign up with your email and password or create a free account to test the product before upgrading the subscription.
    www.dochub.com/fillable-form/43257-empower-har…
     
  3. People also ask
    What is a 401(k) hardship withdrawal?A 401(k) hardship withdrawal is a type of withdrawal from a retirement plan that allows participants to access their funds when facing certain financial hardships. The IRS' definition of hardship is broad and includes the following reasons:
    How do I initiate a hardship withdrawal?To initiate a hardship withdrawal, participants complete a Hardship Distribution Request form and submit to Empower. A copy of the Plan’s Hardship Distribution Request form is available on the Plan Service Center (PSC). Participants may also obtain a Hardship Distribution Request form online or via an Empower Representative.
    Do employers allow hardship withdrawals?Employers are not required to allow hardship withdrawals, so access can vary from plan to plan. Contact your plan administrator to see if your plan permits hardship withdrawals. The IRS also says that hardship withdrawals are only an option if you can’t reasonably get money from another source.
    Does a 401(k) plan allow hardship distributions?Many 401 (k) plans, 403 (b) plans, and 457 (b) plans allow for hardship distributions. If a 401 (k) plan permits hardship distributions, it must provide the specific criteria used to make the determination.
     
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    WebApr 27, 2023 · To qualify for a 401 (k) hardship withdrawal, you must have a 401 (k) plan that permits hardship withdrawals. Employers are not required to allow hardship withdrawals, so access...

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