You can withdraw money from your vested account balance once you’ve terminated County employment or if you encounter a serious financial hardship. Among them are:
Before making a hardship withdrawal, you must exhaust other options. In addition, you cannot contribute to the plan for 18 months after the withdrawal.
To request a withdrawal, you can:
Note: The Comptroller’s Office Payroll Department must approve all hardship withdrawal requests.
Tax implications: You will be responsible for paying any federal, state, local, or foreign taxes on a distribution or withdrawal from pre-tax accounts. A distribution or withdrawal of Roth 457(b) earnings is usually also taxable unless the initial Roth contribution was made more than five years ago, you have left the employer. To the extent required by law, Vanguard will make the appropriate withholding for tax purposes.
All investing is subject to risk, including the possible loss of the money you invest.