Deferrals may be distributed only if one of the following conditions has occurred:
(1) Severance from employment with a participating employer;
(2) Death of the participant;
(3) An unforeseeable emergency, set forth in § 3-13-82;
(4) Requirements are satisfied for an in-service distribution, as set forth in § 3-13-83; or
(5) A participant is called to perform qualified military service for a period in excess of thirty days.