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457(b) Early Withdrawal

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Guest Joel

The 10 percent federal excise tax has no application to 457(b) plans. Having said that you do not have a free hand in withdrawing money willy-nilly. Prior to age 59-1/2, in-service participants may withdraw small amounts to relieve a financial hardship. Upon severance from employment all distributions are exempt from the 10 percent tax regardless of your age.

 

peace and hope,

Joel L. Frank

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The 10 percent federal excise tax has no application to 457(b) plans. Having said that you do not have a free hand in withdrawing money willy-nilly. Prior to age 59-1/2, in-service participants may withdraw small amounts to relieve a financial hardship. Upon severance from employment all distributions are exempt from the 10 percent tax regardless of your age.

 

peace and hope,

Joel L. Frank

 

 

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