Nongovernmental 457(b) Distributions and Unforeseen Emergencies

Q. What are some of the unforeseen emergencies for which one may apply for a distribution from a nongovernmental 457(b) plan?

A. Such unforeseen emergencies could include a severe financial hardship suffered by a participant or beneficiary because of (1) illness or (2) an accident that the participant or beneficiary, as well as their spouses or dependents, experiences. They also could include loss of a participant’s property a participant due to casualty or other similar extraordinary and unforeseeable circumstances caused by factors a participant or beneficiary cannot control.