No matter how carefully you save, emergencies happen where you need a large sum of money to pay off an unexpected expense. Whether the expense is college tuition for your child or paying off revolving credit card debt ($500 payday loans), many people turn to their employer-sponsored retirement plan to cover their expenses. While withdrawing money from your 401(k) is as easy as submitting the paperwork to your company’s retirement plan manager, there are several issues to consider before tapping into your retirement fund.