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UNH » Topics » 19. IN-SERVICE DISTRIBUTION FOR UNFORESEEABLE EMERGENCY. Effective for all in-service distributions for unforeseeable emergencies made on or after January 1, 2008, Section 9.8.2 of the Plan Statement shall be amended to read in full as follows:

This excerpt taken from the UNH 10-K filed Feb 21, 2008.

19. IN-SERVICE DISTRIBUTION FOR UNFORESEEABLE EMERGENCY. Effective for all in-service distributions for unforeseeable emergencies made on or after January 1, 2008, Section 9.8.2 of the Plan Statement shall be amended to read in full as follows:

9.8.2. In-Service Distribution for Unforeseeable Emergency. A Participant who has incurred an unforeseeable emergency may request an in-service distribution while employed from the Participant’s Account if the Executive Vice President, Human Capital determines that such distribution is for one of the purposes described in (b) below and the conditions in (b) below have been satisfied.

 

  (a) Election. A Participant may elect in writing to receive distribution of all or a portion of the Participant’s Account prior to Termination of Employment or Disability to alleviate an unforeseeable emergency (as defined in (b) below). A Beneficiary of a deceased Participant may also request an early distribution for an unforeseeable emergency.

 

  (b) Unforeseeable Emergency Defined. For purposes of this Section, an “unforeseeable emergency” means a severe financial hardship to the Participant resulting from:

 

  (i) an illness or accident of the Participant, the Participant’s spouse, the Participant’s Beneficiary, or the Participant’s dependent (as defined in section 152 of the Code, without regard to sections 152(b)(1), 152(b)(2) and 152(d)(1)(B) of the Code),

 

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  (ii) the loss of the Participant’s property due to casualty, or

 

  (iii) other similar extraordinary and unforeseeable emergency circumstances arising as a result of events beyond the control of the Participant.

Whether a Participant is faced with an unforeseeable emergency will be determined based on the relevant facts and circumstances. If a severe financial hardship is or may be relieved either (i) through reimbursement or compensation by insurance or otherwise, (ii) by liquidation of the Participant’s assets (to the extent the liquidation of such assets would not itself cause severe financial hardship), or (iii) by cessation of deferrals under this Plan (at the earliest possible date otherwise permitted under this Plan) or any 401(k) plan, then the hardship shall not constitute an unforeseeable emergency for purposes of this Plan. If a Beneficiary of a deceased Participant requests an early distribution for an unforeseeable emergency, then the references in this definition to “Participant” shall be deemed to be references to such Beneficiary.

 

  (c) Distribution Amount. The amount of such distribution is limited to the amount reasonably necessary to satisfy the unforeseeable emergency. The amount of such distribution shall be determined as soon as administratively feasible following the receipt and approval of the request by the Executive Vice President, Human Capital or his or her designee and shall be actually paid as soon as administratively practicable after such determination.

 

  (d) Suspension Rule. If a Participant receives a distribution due to an unforeseeable emergency (under this Plan or the UnitedHealth Group Legacy Executive Savings Plan), the Participant’s deferrals under Sections 3 and 4 will cease as soon as administratively practicable following the date such distribution is made. The Participant may not again elect to defer compensation under this Plan until the enrollment period for the Plan Year that begins at least six (6) months after such distribution.
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