Page 6 - Allscripts Retirement Savings Plan

HARDSHIP WITHDRAWAL
You may be eligible to withdraw a portion of your Retirement Plan account balance if you experience a financial hardship. Hardship is defined as an instance in which you need to:
• Prevent eviction from or foreclosure of your primary residence;
• Repair damage to your primary residence;
• Purchase a primary residence;
• Pay for post-secondary education for you or an immediate family member;
• Pay for uninsured medical expenses;
• Pay for funeral expenses for an immediate family member; or
• Cover certain expenses and losses incurred as a result of a federally declared disaster.
Hardship withdrawals are subject to ordinary income tax and may be subject to a 10% federal penalty. Residents of certain states may also be subject to state penalties. You can contact Participant Services for more information.
TERMINATION
You may receive all of your vested contributions and any potential earnings upon termination of employment.
Please note: If your vested Retirement Plan account balance is between $1,000 and $5,000 and you do not respond to Schwab Retirement Plan Services, Inc. with your distribution preference, your Retirement Plan account balance will be rolled over to a Charles Schwab Trust Bank Automatic Rollover IRA and the funds will be deposited to an FDIC-insured money market deposit account.* Any account balances in Roth 401(k) sources will be rolled over into a Roth IRA, and the five-year qualification period may start over. This may impact the rollover decision. If the participant has an established Roth IRA, then the qualification period is calculated from the initial deposit into the IRA and the rollover will be eligible for tax-free withdrawals when that five-year period has ended (and the age qualifier has been met).
*FDIC Coverage: Rollover funds in the Charles Schwab Trust Bank Automatic Rollover IRA are deposited in a Federal Deposit Insurance Corporation (FDIC) insured money market deposit account at Charles Schwab Trust Bank. You may also hold deposits at one or more banks that are affiliated with Charles Schwab Trust Bank (“Affiliated Banks”). Funds deposited at Affiliated Banks are eligible for FDIC insurance, in aggregate, up to $250,000 per Affiliated Bank, based on account ownership category, such as individual retirement accounts or self-directed employee benefit plans, such as Schwab Personal Choice Retirement Account®.3 You are responsible for monitoring the total amount of deposits you hold with the Affiliated Banks. Because the deposit insurance rules are complex, you may want to use the FDIC’s online tool Electronic Deposit Insurance Estimator (www.fdic.gov/edie) to estimate your total coverage.
RETIREMENT
You can withdraw money from your Retirement Plan account when you retire.
IN-SERVICE WITHDRAWALS
In-service withdrawals are allowed in certain situations specified by the Retirement Plan.
DISABILITY
If you become permanently disabled, you are allowed to withdraw your vested Retirement Plan account balance.
DEATH
In the event of your death, your vested Retirement Plan account balance will be paid to your beneficiaries.
For more information about your withdrawal options, call Participant Services at 1-800-724-7526. Representatives are available Monday through Friday, between 7 a.m. and 11 p.m. ET.
This information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, you should consult with a qualified tax advisor, CPA, financial planner, or investment manager.
The preceding highlights are only a brief overview of your Retirement Plan features and do not constitute a legally binding document. A more detailed Summary Plan Description is available from your Human Resources department. Please review it carefully for additional information about the Retirement Plan’s specific provisions.
If you have further questions, please contact your Human Resources department.
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