• If you are over age 59 1/2 and still employed with UNM, you can take a distribution (cash) or rollover the funds to an IRA or another like kind account for the 403(b), but you cannot do either with the 457(b).
  
  
• If you are under age 59 1/2 and have separated from UNM, you can take a cash distribution from the 457(b) and there is not a 10% early withdrawal penalty, but there is with the 403(b).

• No, the plan document does not allow for a hardship withdrawal for either plan.
  
  
• However, there is an unforeseeable emergency withdrawal available for the 457(b).

Yes, an employee can take out a loan against the 403(b) or 457(b). If you are no longer employed by UNM you cannot take out a loan.

We have four approved vendors available under both the 403(b) and 457(b) annuity plans. They are:

• TIAA-Cref
• Fidelity
• Corebridge
• Voya

In 2026, an employee can contribute up to a maximum of $24,500 to each account, after required payroll deductions. 

Exceptions:

• If you're over 50, but under age 60, the maximum is $32,000 to each account, after required payroll deductions.
• If you're between 60 and 63, the maximum is $35,750 to each account after required payroll deductions.
• If you are over age 64, the maximum is $32,000 to each account, after required payroll deductions.

Additionally, in 2026, if your FICA wage for 2025 is $145,000 or more all age based catch up contributions must be switched to Roth contributions in order to continue.

In 2025, an employee can contribute up to a maximum of $23,500 to each account, after required payroll deductions. 

Exceptions:

• If you're over 50, but under age 60, the maximum is $31,000 to each account, after required payroll deductions.
• If you're between 60 and 63, the maximum is $34,750 to each account after required payroll deductions.
• If you are over age 64, the maximum is $31,000 to each account, after required payroll deductions.