Hardship Withdrawals
Effective Jul 9, 2004St. 1981 c. 731, § 7Office of State Treasurer and Receiver General Deborah B. Goldberg
(1) Upon proper proof of an unforseen emergency, hardship withdrawals will be permitted in the following manner:
- (a) For an amount less than $3,500, the Plan Coordinator has the authority to approve the withdrawal.
- (b) For amounts greater than $3,500, the approval of the Plan Administrator is necessary.
- (2) Where applicable, the participant will be subject to the surrender charge.