Unforeseeable Emergency – 457(b) Plan

If you or your beneficiary is faced with an unforeseeable emergency, you may qualify for a distribution without tax penalty. Although similar to the hardship rules for a 403(b) Plan, fewer situations qualify for an Unforeseeable Emergency Distribution under the 457(b) Plan.

Qualifications

The expense must be from:

  • Illness or accident (may include you or your spouse, dependent, or beneficiary)
  • Loss of property due to casualty
  • Similar extraordinary and unforeseeable circumstances arising as a result of events beyond your control; and

Not relieved by:

  • Stopping contributions
  • Reimbursement by insurance
  • Reasonable liquidation of assets
  • Borrowing from commercial resources


Administered and Marketed by American Fidelity Assurance Company, dba AFPlanServ®

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