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1-800-748-6128 http://stateofmi.voyaplans.com 457 Plan Unforeseeable Emergency Withdrawal Request This form to applies to: 457 Plan A distribution from your retirement account is only available upon

How to fill out 457 plan unforeseeable emergency

How to fill out 457 plan unforeseeable emergency?

1. Gather necessary documentation: Before filling out the 457 plan unforeseeable emergency form, collect all the required documents such as proof of the emergency situation, medical bills, or any other relevant evidence.
2. Contact your plan administrator: Reach out to your plan administrator to obtain the specific form for requesting a withdrawal due to an unforeseeable emergency. They will guide you through the process and provide any additional information you may need.
3. Complete the form accurately: Fill out the form with accurate and detailed information about the emergency, including the date, description, and the amount of money needed to cover the expenses. Be sure to double-check all the information before submitting it.
4. Attach supporting documents: Attach the necessary documentation to support your claim, such as medical bills, repair estimates, or any other evidence that proves the existence and urgency of the emergency situation. Make copies of all documents for your records.
5. Submit the form: Once you have completed the form and gathered all the required documents, submit them to your plan administrator following their specific instructions. Keep a copy of the submission confirmation for your records.

Who needs 457 plan unforeseeable emergency?

1. Employees with a 457 plan: Individuals who have a 457 plan and are faced with unforeseeable emergencies may need to access funds from this plan to cover the related expenses.
2. Individuals with genuine financial emergencies: The 457 plan unforeseeable emergency is designed to cater to individuals who are experiencing unexpected and urgent financial situations that require immediate access to their plan funds.
3. Those who meet the eligibility criteria: Each 457 plan has its own eligibility criteria for what qualifies as an unforeseeable emergency. It is important to check with your plan administrator to determine if your situation qualifies and if you meet the necessary criteria to access funds from the plan.

Remember, it is crucial to consult with a financial advisor or tax professional to understand the potential consequences, tax implications, and any penalties associated with accessing funds from your 457 plan for an unforeseeable emergency.

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