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pwilbanks
Are employees required to suspend contributions for 12 months to a 457 plan after an unforeseen emergency withdrawal?
Carol V. Calhoun
No. Even in the context of a 401(k) plan, a plan need not require employees to suspend contributions if the employer is willing to use other means to determine whether an employee has other resources with which to meet the financial need. In a 457 plan, the safe harbor of requiring the suspension of contributions is not available, so the employer must always verify whether the employee has other financial resources which could be used to meet the financial need. In doing so, the employer should consider whether the employee plans to make future contributions only insofar as discontinuing contributions might in some instances be an alternative way of meeting the need.

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