457(b) plans may offer distributions to a participant based on
an unforeseeable emergency for:
- an illness or accident of the participant, the participant’s
beneficiary, or the participant’s or beneficiary’s spouse or
dependents;
- property loss caused by casualty (for example, damage from a
natural disaster not covered by homeowner’s insurance) of the
participant or beneficiary;
- funeral expenses of the participant’s spouse or dependent;
and
- other similar extraordinary and unforeseeable circumstances
resulting from events beyond the control of the participant or his
or her beneficiary (for example, imminent foreclosure or eviction
from a primary residence, or to pay for medical expenses or
prescription drug medication).