Annuity Fund Hardship Distribution

ANNUITY FUND

Annuity Fund Hardship Distribution

A Participant may, in the event of Hardship, be permitted to make a withdrawal from their Annuity Fund Profit Sharing Account before retirement or termination of service with the Employers.

The term "Hardship" shall mean:

Medical Expenses

As defined in Code Section 213(d) incurred by, or to obtain such medical care, by the Participant, the Participant's Spouse or any of the Participant's dependents.

Principal Residence

Construction of principal residence or emergency repairs

Educational Fees

Payment of tuition and related educational fees for the education for the Participant, the Participant's Spouse, or any of the Participant's dependents.

Prevent Eviction

The need to prevent the eviction of the Participant from such Participant's principal residence or foreclosure on the mortgage of the Participant's principal residence.

Funeral Expenses

Funeral expenses for Participant's spouse, child, dependent or parent.

For a Hardship withdrawal to be granted, ALL of the following requirements must be met:

Cannot Exceed Amount Necessary

The amount of the withdrawal must not be in excess of the amount necessary to alleviate the Hardship, including amounts necessary to pay any Federal, State and local income taxes or penalties reasonably expected to result from the distribution.

Cannot Exceed One-Half of Balance

The amount of the withdrawal shall in no event exceed one-half of the balance in the Participant's Basic Account.

Cannot Exceed $50,000

The amount of the withdrawal shall in no event exceed $50,000.00 from the Participant's Basic Account.

No Withdrawal in Prior 36 Months

The Participant must not have received a withdrawal in the prior 36-month period under subsection (b).

Balance of at Least $2,000

The balance in the Participant's Basic Account must be at least $2,000.00 prior to the withdrawal.

ANNUITY FUND