What Are The Penalties For Withdrawing Your Retirement Funds Early To Buy Your First Home?

Does anyone know what (if any) are the penalties for withdrawing some or all of your retirement funds to use as a down payment to purchase your first home? I have a 457 retirement plan and I am considering pulling out $10K to go towards the purchase of my first home. Normally I would be penalized 30% but I heard somewhere that there are 3 circumstances where this is allowable without penalties. Can anyone vertify this is accurate or tell me where I can get more info.
Thank you!

This entry was posted on Monday, September 28th, 2009 at 3:52 am and is filed under annuities. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.