Unforeseeable Emergency Definition Example

Unforeseeable Emergency. Shall mean a severe financial hardship to a Participant resulting from an illness or accident of the Participant, the Participant's Spouse, the Participant's beneficiary, or a dependent (as defined in Section 152(a) of the Code) 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. This definition shall be construed and administered in accordance... with the requirements of Code Section 409A(a)(2)(B)(ii) and Treasury Regulations thereunder. View More