Page 67 - AprDefComp

7. How will Participants request a Coronavirus-related distribution (CRD)?

To initiate a “coronavirus-related distribution” in a plan that chooses to allow them, a
participant has two options:
 Complete an in-service withdrawal form and note it as a CARES distribution. A specific
form for CARES distributions may be created, but in lieu of this form, use an in-service
withdrawal form and clearly write “CARES” on the form.
 If elected through the electronic questionnaire, sponsors can instruct us to accept verbal
requests through our recorded participant lines. CRD Distributions via toll-free telephone
services will use participant information currently held in our recordkeeping system, which
includes but is not limited to participant status and vesting.

8. How are we capturing self-certification from a participant?
When the participant completes the form indicating it’s a “CARES Act” distribution, we will also
capture the participant’s self-certification. Similarly, when a participant contacts our phone
center to request a CRD we will capture their self-certification on a recorded line.

9. If available, will Participants be able to use online processing for these CARES
related loans and distributions?

No. At this time CRDs and CARES Act related loan maximum amounts will be processed
exclusively over the phone (if elected) or by paper form.

10. Does the CARES Act $100k distribution max limit apply in aggregate across
Retirement product types, 401(k), IRA, etc? How will MassMutual support this?
The $100,000 limit is a combined limit applied to all plans maintained by the employer (and
any member of the controlled group that include the employer), and any Individual
Retirement Accounts (“IRAs”). It is the Participant’s responsibility to manage this and ensure
the total withdrawn from all retirement accounts does not exceed $100,000.

11. What can participants expect when calling MassMutual to process a CRD?
MassMutual representatives will educate participants on the different distribution options
available to them and inform them of the eligibility requirements for CRDs. If permitted, the
representative will initiate the distribution over the phone after the participant confirms they
meet one of the qualifying criteria. If phone-distributions are not elected for the Plan, the
representative will provide the participant the appropriate form to complete and return to
MassMutual for processing.

12. How will tax withholding apply to CRD’s?
For a CRD, the default federal tax withholding is 10%, although participants will have the
option to waive withholding completely or elect a value greater than 10%. State taxes are

P a g e | 6 | RS-49007-00
This document is intended for Plan Sponsor and Third-Party Administrator use only. Not intended for Participant
use.
insurance companies
Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001,and it affiliated US