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Hardship Withdrawals

401(k) Hardship Withdrawals can only be requested under specific financial hardship situations.  A Hardship Withdrawal is considered taxable income and will be reported to the IRS.  You will not be able to put the money back in the account once you withdraw it.  Principal will deduct additional tax penalties from the withdrawal amount for penalties that you will owe to the IRS for withdrawing the funds before retirement age. 

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See the Summary of Plan Provisions for more details. 

Confidential Consultation 

If you have questions about a Hardship Withdrawal, please contact Barb Seckler, Finance Manager at 407-671-9700 ext 108 barb.seckler@reliant.org for a confidential discussion of your options. 

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