The IRS imposes timing limits on the receipt of benefits under the Plan. You may withdraw funds from the Plan only upon the following circumstances:

• Severance from employment (including, retirement permanent disability or death)
• Attainment of age 70 ½*
• A qualifying unforeseeable emergency (as defined by IRS Code Section 457 and described below)
• Small balance distribution – A "onetime" election to receive an account balance distribution provided the account balance is less than $5,000.00 and there have been no deferrals for the past 2 years.

*Once a participant has a severance of employment and attained age 70 ½, they are subject to the “required beginning date”. The Internal Revenue Code establishes the “required beginning date”, thus initiating participant payments. Participants are not allowed to delay distributions beyond the “required beginning date”.

Emergency Withdrawals

The West Virginia Retirement Plus Plan (“Plan”) is designed for long-term retirement savings. Accordingly, participants should maintain separate, available emergency funds to cover day-to-day, unanticipated, financial shortages. However, there are circumstances warranting emergency withdrawals from the Plan.

The IRS defines an Unforeseeable Emergency “as a severe financial hardship resulting from an illness or accident incurred by you or a dependent, loss of your property due to casualty or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond your control and the hardship cannot be relieved by reimbursement or compensation (by insurance or otherwise), liquidation of your assets (to the extent the liquidation would not itself cause a severe financial hardship), or cessation of deferrals under the Plan”.

The decision as to whether an Unforeseeable Emergency exists is based upon interpretation of the Internal Revenue Code Regulations. Participants filing for an emergency withdrawal must contact ING national customer service at 800-584-6001 to obtain forms and further information.