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This document provides instructions and materials for employees of the City of Madison seeking to request an emergency withdrawal from their deferred compensation plan. It outlines conditions for qualifying emergencies, application processes, and details required documentation.

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What is 457 emergency withdrawal packet?

The 457 emergency withdrawal packet is a set of forms and documentation required for participants in a 457 retirement plan to request an emergency withdrawal of their funds due to specific qualifying circumstances.

Who is required to file 457 emergency withdrawal packet?

Any participant in a 457 retirement plan who experiences a qualifying emergency or financial hardship must file the 457 emergency withdrawal packet to access their funds.

How to fill out 457 emergency withdrawal packet?

To fill out the 457 emergency withdrawal packet, individuals must complete the required forms by providing personal information, detailing the emergency situation, and attaching any necessary documentation to support their request.

What is the purpose of 457 emergency withdrawal packet?

The purpose of the 457 emergency withdrawal packet is to facilitate access to retirement funds for participants facing unexpected financial hardships while ensuring that proper protocols are followed.

What information must be reported on 457 emergency withdrawal packet?

The information that must be reported includes the participant's personal details, the nature of the emergency or hardship, the amount requested for withdrawal, and any supporting documentation that validates the emergency.

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