What you consider a financial emergency and what ERISA law considers a financial hardship are two very different things. If your plan allows loans you may be able to borrow 1/2 your balance, but then you will have payments coming out of your check. Hardship withdrawals are usually allowed, however there are strict reasons for this and you must show proof. If you are facing foreclosure, this qualifies. You would have to show documentation of this and ask the adminstrator what they need you to do to complete this,. some can do it over the phone, some need an app completed... you can usually only take out what you have put in, not the employer contribution. The administrator will have all the specifics as each plan is different. Some do not allow loans or hardships... If you were to be laid off, and it was "permanent", that is the input a termination date to the administrator, you could then withdraw the vested amount- and loans and taxes...