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How to fill out the Unforeseen Emergency Withdrawal Application - CalPERS online
The Unforeseen Emergency Withdrawal Application from CalPERS allows individuals to request a withdrawal in times of financial hardship. This comprehensive guide will walk you through the steps to complete the form online in a clear and user-friendly manner.
Follow the steps to accurately complete your application online.
- Click ‘Get Form’ button to access the Unforeseen Emergency Withdrawal Application and open it in your chosen form editor.
- Review the hardship requirements outlined at the start of the application to determine if you meet the eligibility for a withdrawal.
- Fill in the participant information section carefully. Provide your name, social security number, agency plan number, and contact details including mailing address, phone numbers, and email.
- In the 'Unforeseen Emergency Withdrawal Requirements' section, read about the types of emergencies eligible for withdrawal and prepare to indicate your reason.
- Select the amount you are requesting to withdraw. Choose between the maximum amount or specify a dollar amount that meets your financial need.
- In the tax withholding elections section, decide how much federal and state tax you want withheld from your withdrawal. Review the implications carefully or consult a financial advisor.
- Choose how you prefer to receive the funds - either through standard first-class mail or expedited delivery for an additional fee.
- Provide a valid reason for the withdrawal and ensure you gather the required documentation to substantiate your claim.
- Sign the form in the authorization section and have your employer review and sign it as well.
- If applicable, include spousal consent if you are married. If the spouse cannot sign, complete the justification section.
- Before finalizing, double-check that you have completed all sections and included all necessary documentation. Save changes, download a copy, and either print or share the form as needed.
Complete your Unforeseen Emergency Withdrawal Application online today to ensure timely processing.
If you receive your refund before age 59 ½ years, you may have to pay an additional 10% federal income tax and an additional 2.5% state income tax for early distribution.