Unforeseeable Emergency Withdrawals

IRS guidelines and the City’s Plan document provide that an unforeseeable emergency means a severe financial hardship to the Participant resulting from:

(1) illness or accident to you, your spouse or one of your dependents (as defined by the IRS);

(2) the loss of your property due to casualty; or

(3) other similar extraordinary and unforeseeable circumstances arising as a result of events beyond your control.

Withdrawals are permitted only to the extent the hardship cannot be relieved: (1) through reimbursement or compensation from insurance or otherwise; (2) by liquidating your assets (to the extent this would not itself cause severe financial hardship); or (3) by stopping deferrals under the Plan. The amount available for distribution is limited to the amount reasonably necessary to satisfy the emergency need (including any amounts necessary to pay federal, state or local income taxes or penalties reasonably anticipated to result from the distribution.)

Participants interested in applying for an Unforeseeable Emergency Withdrawal should contact ING Financial Services to obtain the appropriate forms. Customer Service Associates are available by calling ING's national Customer Contact Center at (800)-584-6001

Completed forms should be mailed to:

DC Customer Service Foms
P.O. Box 990063
Hartford, CT 06199-0063

Click here for additional information on unforeseeable emergency withdrawals, including reasons that that do and do not qualify for a withdrawal.