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Unforeseeable Emergency Withdrawal and Loans


DTH

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A governmental 457(b) plan permits participant loans and unforeseeable emergency withdrawals. Must a participant take a loan from the 457(b) plan first before they can request an unforeseeable emergency withdrawal (assuming the loan does not cause a hardship).

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Thank you all. I had looked at the Treasury regulations and the Revenue Ruling but they did not specify. I had also looked at a few vendor forms online and the forms said that the participant had to take a plan loan first but their specimen plan document has the same unforeseeable emergency standard language as the regulations. It is possible that the restiction could be in a seprate Participant Loan Program the vendor suppied the employer.

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