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Tech Talk: Hardship Withdrawals from a 457 Plan

Q: Can hardship withdrawals be taken from both the contributions and earnings in a 457(b) account, or is the withdrawal limited to salary reduction contributions only — as is true for a 403(b) plan?

A: The emergency hardship withdrawal can be based on the entire account value, and must be no more than an amount that is reasonably necessary to satisfy the need.