I am 55 and recently started drawing a pension under the early retirement provision of my unions defined benefit plan. We also have a 401K supplemental plan in which I have a balance of $4300.00. I would like to withdraw this and am wondering if I would be subject to the additional 10% penalty.Also as we can draw our pension and still work a limited amount of hours in a calender year I could be making contributions to the fund that I have closed out because the employers contribution is automatic. Thanks, akscott

If you are still employed by the company where your 401(k) is located you have to be 59-1/2 to avoid the 10% penalty. If you leave your job at age 55 or older, you can withdraw without penalty, even if you work somewhere else.