Unforeseeable Financial Emergency

Example Definitions of "Unforeseeable Financial Emergency"
Unforeseeable Financial Emergency. A severe financial hardship to a Participant within the meaning of Treasury Regulation §1.409A-3(i)(3) resulting from: (a) an illness or accident of the Participant or the Participant's spouse, Beneficiary, or dependent (as defined in IRC section 152, without reference to IRC sections 152(b)(1), (b)(2) and (d)(1)(B)); (b) loss of the Participant's property due to casualty; or (c) other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the... Participant View More
Unforeseeable Financial Emergency. A Means a severe financial hardship to a the Participant within the meaning of Treasury Regulation §1.409A-3(i)(3) resulting from: (a) from (i) an illness or accident of the Participant Participant, the Participant's spouse, the Participant's beneficiary or the Participant's spouse, Beneficiary, or dependent (as defined in IRC section Code Section 152, without reference regard to IRC sections Code Sections 152(b)(1), (b)(2) (b)(2), and (d)(1)(B)); (b) (ii) loss of the Participant's property due... to casualty; or (c) (iii) other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant Participant, all as determined by the Committee and in accordance with Code Section 409A View More
View Variations
All Definitions