Tax Disclosures / Distribution Restrictions

Distributions from a 401(a), 403(b), or 457(b) plan account are restricted by the tax laws and may be further restricted by your employer’s plan.  Generally, you may take a distribution from a 401(a) plan account only upon reaching a specified age, severance from employment, or disability; from a 403(b) plan account only upon reaching age 59 ½, severance from employment, disability, or certain hardships (if allowed by the plan); and from a 457(b) plan account only upon reaching age 70 ½, severance from employment, disability, or an unforeseeable emergency (if allowed by the plan).  If you take money out before age 59 ½ you could be subject to a federal penalty tax of 10% (except for 457(b) plan accounts) in addition to income taxes. Horace Mann Investors, Inc. and its affiliates do not provide tax advice. The information herein is general in nature and should not be considered tax advice. You should consult with a tax advisor regarding any tax-favored retirement products and your specific situation.

WBIA-0015 (5/17)

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