Posted on: 16th Mar, 2011 08:53 pm
Is there any penalty or income tax associated with a short term withdrawl (6 months) for NH's 457 retirement plan?
Hi jarcidia,
As far as I know, if you take out a loan from your retirement and cannot pay it off within the stipulated time period, you will be liable for paying a penalty.
As far as I know, if you take out a loan from your retirement and cannot pay it off within the stipulated time period, you will be liable for paying a penalty.
Contact your Plan Administrator to see if you can borrow from it and all of the terms.
This is allowable for a mortgage
This is allowable for a mortgage
