Sargent & Lundy Savings Investment Plan

ROTH 401(K) WITHDRAWALS

We now have additional information on non-qualified Roth 401(k) withdrawals.  Unless you have reached age 59-1/2, died or become disabled AND participated in the Roth 401(k) for at least 5 years, there are only two options for withdrawing the money:

1.    IRS-approved hardship:
      *   Significant medical expenses incurred by you, your spouse or dependent,
           not reimbursed by insurance
      *   Purchase (excluding mortgage payments) of principal residence
      *   Payment of tuition, room & board, and related educational fees for the
           next 12 months of post-secondary education for you, your spouse or
           eligible dependent
      *   Prevent eviction from principal residence or foreclosure on mortgage of
           principal residence
      *   Expenses for repair of damage to your principal residence that would
           qualify as deductible casualty expenses
      *   Burial or funeral expenses for your deceased parent, spouse, child or
           eligible dependent.

2.   Termination of employment.

For additional information refer to the list of source hierarchies for withdrawals and the chart comparing 401(k) vs Roth 401(k) vs SIP after-tax.

This page updated on 3/15/2006

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