Welcome to Solomon!

Enter the Access Code below

Access code is invalid

Solomon Logo

For assistance, problems or questions, please email us.

solomon@reliant.org

Versions Compared

Old Version 11

changes.mady.by.user Sarah Swann

Saved on

compared with

New Version Current

changes.mady.by.user Sarah Swann

Saved on

Key

  • This line was added.
  • This line was removed.
  • Formatting was changed.

Hardship Withdrawals

401(k403(b)(9) 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 into the retirement 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. Elective deferral contributions will be suspended for six months following the date of the withdrawal.

To request a Hardship Withdrawal log on to your account at principal.com - Select Loans and Withdrawals - Request a Withdrawal. Withdrawals can be paid out in the form of a check or a direct deposit.  

...

If you have questions about a Hardship Withdrawal, please contact Barb Seckler, Employment Services ManagerDirector of Finance, at 407-270-1318 or barb.seckler@reliant.org for a confidential discussion of your options.