| Distribution Eligibility | ||
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| Borrowing Money From Your 457(b) | ||
Subject to availability and any additional conditions applied by individual vendors.
IRS limits loans to the lesser of:
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| Unforeseen Emergency Withdrawal | ||
| Unforeseen emergency withdrawals are permitted from your 457(b) account if the employee is under severe financial distress. The IRS definition of what qualifies as an unforeseen emergency is very specific and more stringent than the definition of hardship under the 403(b) plan. The emergency must be unexpected and unanticipated. Furthermore, the employee must have no other resources available to alleviate the stress, such as selling assets or obtaining a loan from a financial institution. Check with your vendor and employer for more information. | ||
| Withdrawal Requirements for 457(b) Money | ||
| You must begin to take withdrawals from your 457(b) no later than April 1
of the year following the year in which you turn age 70½. If you are still working, you can delay withdrawal from your
457(b) until April 1 following the year in which you retire.
See this IRS story on Required Minimum Distributions (RMD). | ||
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457(b) Basics » |
Accessing 457(b) Savings | |
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