Annuities In A Nongovernmental 457(b) - Distributions? in 457 Forum Posted March 19, 2010 · Report reply It would have been so nice if the government differentiated the two 457(b)'s with an NP or G, but no.... My understanding of a nonprofit 457(b) is that employee is required to take full distribution within 60 days of termination of employment. If employee doesn't, there are penalties to the employer. Is this just a provision in a TIAA-CREF NONGOVERNMENTAL 457(b) or is it law? What if your 457(b) is all in annuities - does that prevent a full cash-out? Have a great day.