In general, a 457(b) plan may permit hardship distributions for unforeseeable emergencies if specific requirements are met. For example: residential flood damage and funeral expenses of a non-dependent child may be unforeseeable emergencies arising from events beyond the control of the participant. However, accumulated credit card debt would not be eligible.
A hardship is essentially a last resort to access your 403b funds when you are not 59½ and you are still actively employed. You can get one at any time, but you need to qualify as well as finding out if your employer allows hardship withdrawals. You need your investment company's paperwork, your Hardship documentation, and the ADMIN Partners Hardship checklist which you can find below.
403(b) Request for Hardship Withdrawal Form: A request to verify eligibility to receive a Hardship Withdrawal for 403(b) plans.
Hardship Withdrawals Educational Video: discussion of what is a Hardship Withdrawal, how you can apply, and how we can help you.
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