Eligibility for Distribution

You will be eligible for a distribution of benefits when you satisfy one of the following conditions:

a. You attain age 59½. You do not need to terminate covered employment to receive a distribution of benefits at age 59½.

b. You attain normal retirement age of 65. You do not need to terminate covered employment to receive a distribution of benefits at age 65.

c. You terminate employment for any reason (including death, disability, layoff, etc.) with any employer maintaining this Plan prior to age 59½. Your contributions and investment earnings are available for distribution as soon as practical following termination of employment and receipt of an application for benefits, but may be subject to early withdrawal penalties.

For all three conditions, you may receive your benefits in the form of a total lump sum payment. Your account balance may be rolled over tax-free to an Individual Retirement Account, a Roth IRA, a 403(b) Plan, a 457 Plan, or another tax qualified plan of your employer (if acceptable to that plan).

Spousal Consent

If you are married, spousal consent will be required for all distributions under the Plan.

Application for Distribution     English          Español

Hardship Distribution

The Plan permits withdrawals of an individual account upon completion of an application for a hardship distribution for the following reasons only:

a. Purchase of your primary residence (excluding mortgage payments);
b. Prevention of eviction or foreclosure of your primary residence;
c. Payment of tuition and related educations expenses for you or your spouse, dependent or designated beneficiary for the next 12 months;
d. Medical expenses for you or your spouse, dependent or designated beneficiary;
e. Expenses for repair or damage to a principal residence; or
f. Burial expenses for a participant’s spouse, dependent or designated beneficiary.

Hardship distributions shall be limited to the lesser of your vested account balance or the amount needed to satisfy your hardship.  If you receive a hardship distribution from the Plan, you will not be eligible to make voluntary contributions to the Plan for twelve months after receipt of the hardship distribution. Hardship distributions may not be rolled over to an IRA or other qualified plan.

Explanation of Hardship and Supporting Documentation

Mandatory Distribution

For all mandatory distributions made on or after March 28, 2005, if the mandatory distribution is greater than $1,000 and less than $5,000, if the participant does not elect to have such distributions paid directly to an eligible retirement plan specified by the participant in a direct rollover or to receive the distribution directly, then the plan administrator will pay the distribution in a direct rollover to an individual retirement plan designated by the plan administrator.  Mandatory distributions of less than $1,000 may be distributed to the participant at the Trustees’ discretion.