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Luci Liu

459b Loans

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A 457(b) plan may not make amounts available before:

– Severance from employment (includes death)

– Attainment of age 70½

– De minimis rule

– Unforeseeable emergency

– Plan termination

 

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A 457(b) plan may not make amounts available before:

– Attainment of age 70½

 

Learning something new every day. Seems drastic that an employed person with no emergencies, etc., cannot make a distribution between 59.5 and before age 70.5.

Thanks,

Steve

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To the OP:

 

Your "headline" and the contents of your post ask two completely different questions. John was correct in that you cannot take any distributions except for the posted reasons. HOWEVER, you may be eligible to take out a loan from your 457 plan. You will need to consult with the plan administrator to see if loan provisions are outlined in your plan document.

 

 

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