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Can I take a loan out of my retirement savings account?
Your contributions to MOSERS defined benefit pension are not available for loans or partial withdrawals.
In addition, if you have an account with MO Deferred Comp, loans are not permitted. However, the MO Deferred Comp 457 retirement savings plan does permit in-service withdrawals from your account under the following circumstances:
- You experience a qualifying, unforeseeable emergency that causes extreme financial hardship, or
- If your account balance is $5,000 or less – you may elect a one-time, in-service distribution, provided you have not made a contribution during the prior two-year period.
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Disclaimer
We strive to provide the most accurate information possible in our answers to Rumor Central questions. However, occasionally, laws, policies or provisions change and individual circumstances may vary. Please contact a MOSERS benefit counselor or see the handbooks in our website Library for more detailed information. If there is any difference between the information provided in this blog or on the MOSERS website and the law or policies that govern MOSERS, the law and policies will prevail. See our Privacy, Security & Legal Notices for more information.