DTH Posted July 23, 2014 Share Posted July 23, 2014 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). Link to comment Share on other sites More sharing options...
John Feldt ERPA CPC QPA Posted July 23, 2014 Share Posted July 23, 2014 No, unless the plan document is written to add that as a requirement. Link to comment Share on other sites More sharing options...
masteff Posted July 23, 2014 Share Posted July 23, 2014 A couple links for you... Rev Rul 2010-27 http://www.irs.gov/irb/2010-45_IRB/ar09.html Reg 1.457-6 http://www.ecfr.gov/cgi-bin/text-idx?SID=ce248eaef2d23fe09d2c0a22ecc9da7a&node=26:6.0.1.1.1.0.5.61&rgn=div8 Kurt Vonnegut: 'To be is to do'-Socrates 'To do is to be'-Jean-Paul Sartre 'Do be do be do'-Frank Sinatra Link to comment Share on other sites More sharing options...
DTH Posted July 23, 2014 Author Share Posted July 23, 2014 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. Link to comment Share on other sites More sharing options...
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