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-   -   When can I withdraw money from 401k without penalty at 591/2 if I (https://www.askmehelpdesk.com/showthread.php?t=668298)

  • Jun 7, 2012, 04:11 PM
    holdsy53
    When can I withdraw money from 401k without penalty at 591/2 if I
    Can I withdraw money from my 401 K at age 59 1/2 if I am not yet retired?
  • Jun 8, 2012, 06:58 AM
    ebaines
    Quote:
    Originally Posted by holdsy53 View Post
    Can I withdraw money from my 401 K at age 59 1/2 if I am not yet retired?
    Maybe, maybe not. Some employers have plans that allow active employees who have reached age 59-1/2 to withdraw from their account without having to meet the "hardship" cases specified by the IRS, but many do not. Only way to know is for you to ask either your company HR department or the 401(k) plan administrator what the rules are. If they do allow you to make a withdrawal you will have to pay taxes on it but there would be no early withdrawal penalty.

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