waid10
Oct 8 2009, 09:25 AM
I am a participant in a governmental 457(b). May I, at age 59 1/2 rollover my 457(b) into an IRA while still employed by the city?
If so, can you point me to the guidance that indicates this?
Thanks
PensionPro
Oct 8 2009, 01:38 PM
Here is my perspective. If you are still employed and under age 70 1/2 there are only limited circumstances under which you may be eligible for a distribution/rollover from a 457 plan. Attaining age 59 1/2 is not one of them.
1) Unforeseeable emergency
2) Small amounts
See §1.457-6.