Get Unforeseeable Emergency Distribution Application

457(b) Assets can be withdrawn without penalty at any age upon separation from service from the plan sponsor, or age 70½ if still working.

The administrator will likely require you to provide evidence of the hardship, such as medical bills or a notice of eviction.

Examples of events that may be considered unforeseeable emergencies include imminent foreclosure on, or eviction from, the employee's home, medical expenses, and funeral expenses. Generally, the purchase of a home and the payment of college tuition are not unforeseeable emergencies.

Events that might trigger an unforeseeable emergency include the following: An illness or accident of the employee or employee's spouse, beneficiary, or dependent. The loss of the employee's property due to casualty. The immediate foreclosure of or eviction from the employee's primary residence.

Examples of events that may be considered unforeseeable emergencies include imminent foreclosure on, or eviction from, the employee's home, medical expenses, and funeral expenses.

A hardship distribution is a withdrawal from a participant's elective deferral account made because of an immediate and heavy financial need, and limited to the amount necessary to satisfy that financial need.

Sudden and Unexpected Illness or Accident of the Participant, Spouse, Dependent or Beneficiary resulting in Non-elective medical/ dental expenses including non-refundable deductibles, as well as the cost of prescription drug medication not reimbursed or compensated by insurance or otherwise • All documentation must ...

Safe Harbor Distributions Under a “safe harbor” in IRS regulations, an employee is automatically considered to have an immediate and heavy financial need if the distribution is for any of these: Medical care expenses for the employee, the employee's spouse, dependents or beneficiary.