A hardship fund is a non-qualified retirement account (NRI) that you can set up for your spouse or dependent child. In some cases, you can use that fund for your own retirement needs.
How do I set up a hardship account?
As long as you are not currently contributing to your NRI or other non-qualifying account, you can use your savings to make a one-time contribution up to a maximum of $1,000 to a hardship account. Once that has been contributed, you must keep that contribution or a portion (less than $1,000) of it to withdraw over the life of the account. You do not have to make a monthly statement with the amount contributed.
You cannot withdraw the amount you set up as a non-qualified contribution for other than emergency use. If the income from the account is over an income limit, the account may be closed and your retirement funds may not be used for qualifying expenses.
How can I use my hardship fund on my own behalf?
To withdraw a portion or all of your contribution without paying income tax, you must have a hardship situation, such as a serious medical condition or disability, or a life-threatening illness, and you must be at least 62 years old. To avoid this restriction, you must make an election to not contribute to your account under certain circumstances, for example, where you are a qualified covered recipient.
Welcome to the third part of my series detailing the evolution of a very long-time project of mine: the JOSM Server (aka JOSM Editor). A brief history of a very long life.
For those who missed an earlier post, the last post in this series was about a project that started as an experiment to find a way to publish a server to the Cloud that was easier to maintain and easier to extend in the future. Later on, I decided to take the project (the server) and put it into the public domain, leaving it open for anyone to use, as long as you respect the terms and conditions. As far as I know, this is the first time this has happened in JOSM, but it’s not the first time either.
What is JOSM?
A Java Object Server is a platform to work with objects within JOSM (Wikipedia definition). In JOSM, you can build and manipulate objects using the various tools that JOSM ships with, allowing you to navigate through JOSM
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