Page 7 - Quarter 1_2023

This winter has been a challenging one here in Monterey County. Employees may be facing unexpected hardships and
may have unforeseen expenses. Employees who are enrolled in the 457(b) Deferred Compensation Plan may be
eligible to take an unforeseeable emergency distribution from their deferred compensation plan.

For more information on Unforeseen Emergency Withdrawals click HERE. To apply, contact Nationwide Retirement
Services at 1-877-677-3678.

Understanding If You Qualify

An Unforeseeable Emergency is a severe financial hardship that occurred within the last 12 months due to:

• An illness or accident of the employee; or spouse or dependent. NOTE: A dependent is defined as an individual
who receives 50% or more of their financial support from the employee, as reflected in tax reporting
documents.
• Medical expenses not covered by insurance or other reimbursements
• Funeral expenses for a spouse or dependent
• Loss of the employee’s property due to casualty, such as damage caused by weather disasters (i.e., storms,
hurricanes, or tornadoes)
• Foreclosure or eviction from the employee’s primary residence

If you are deemed ineligible for an unforeseeable emergency distribution, other options may be available to you such as
taking a loan from your 457(b) deferred compensation plan. See the loan provisions for more information and reach out
directly to Nationwide at 1-877-677-3678 or www.mcdc457.com to apply.

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