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Hardship Distribution and Supporting Documentation
Your Annuity & Savings Plan is intended to provide you with a more secure retirement. However, situations may arise when you have an immediate and heavy financial need for money which cannot be satisfied from other sources.
To qualify for a hardship distribution from the HRSA-ILA Annuity & Savings Plan your hardship must fall into one of these six categories:
1. Withdrawal package 2. Purchase of a Home 3. Tuition and related Educational Expenses 4. Prevention of Eviction or Foreclosure
5. Funeral or Burial Expenses 6. Casualty Repair Expenses for the home Please review the applicable section to determine if you qualify for a hardship distribution and for the documentation that you must submit with your application. A worksheet for each category of hardship is available to assist you in completing your application.
Funds for a hardship distribution may only be drawn from the voluntary contributions that you have made to the Annuity & Savings Plan and cannot exceed the amount required to meet the need created by such a financial hardship. The funds eligible for inclusion in a hardship distribution do not include earnings on the voluntary contributions and they do not include amounts rolled over from prior plans.
A member who receives a hardship distribution from the Plan is not permitted to make voluntary contributions to the Annuity & Savings Plan for a minimum of six months after a distribution.
To apply for a hardship distribution, you are required to furnish specific documentation to HRSA-ILA that details the financial hardship, the amount, and in whose name those debts apply to. If you are married, you are required to submit a spousal waiver that has been signed by your spouse and notarized.
When you have gathered the documentation described in this summary, call Diana Ader at 757-457-9115 to schedule an appointment to complete your application for a hardship distribution.
A completed application for hardship withdrawal consists of:
- Participant Hardship Statement
- A hardship withdrawal worksheet and supporting documentation
- A signed and notarized "Waiver of Qualified Preretirement Survivor Annuity”, if you are married
A DISTRIBUTION WILL BE DELAYED IF ALL REQUIRED ITEMS HAVE NOT BEEN COMPLETED.
Caremark | CIGNA | ComPsych | EyeMed Vision | Delta Dental | MassMutual
HRSA-ILA Participant Services
Phone: 757-457-7090 | 1-800-899-3090 | Fax: 757-423-1205
Interactive Voice Response (IVR) 757-423-3090