Coronavirus Related Distributions (CRD)
The following rules apply to a participant who meets the eligibility requirements above and elects a CRD:
  • A withdrawal up to $100,000 (not to exceed the participant's account balance that is eligible for hardship withdrawals) may be elected.
  • The total amount of the CRDs taken cannot exceed $100,000.
  • Any amount that is withdrawn will reduce the participant's account balance.
  • The 10% early withdrawal tax will be waived on any amount up to $100,000 withdrawn from your account between January 1, 2020 and December 31, 2020.
  • The withdrawal amount may be taxed over a 3-year period, or
  • The participant can repay the amount back to their Plan account, tax-free anytime during the 3-year period after the withdrawal.