State of Michigan 401(k) and 457 Plans

Frequently Asked Questions

Question :
Can I withdraw money from my 401(k) Plan account while still employed by the state?

Answer :
Yes. A Hardship Withdrawal is available through the Plan. It can be taken from your 401(k) Plan account for one of the following reasons:
  • Medical Expenses
  • Tuition Expenses
  • Purchase principal residence
  • Eviction/foreclosure of Principal Residence
Financial Hardship Withdrawal forms can be completed online. You may access the prefilled form at the Loans & Withdrawals section, Request a Withdrawal.