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KeithMezzina

457 Withdrawal

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I'm a firefighter in New Jersey, and I have a 457 plan with VALIC. I no longer wish to participate in the 457, and have filed the appropriate paperwork to stop my payroll deductions. What options do I have to withdraw the funds in my account? There was no employer matching, and it's voluntary.

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Guest Chuck Yanikoski

Generally, you cannot withdraw any funds until you separate from service with your employer. In case of an "unforeseeable emergency," you may be eligible to make hardship withdrawals. Some 457 plans also make loans available in certain circumstances. Check with your plan administrator to see what options apply in your particular plan while you are still working.

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