I am 64 and still working--what age can I start withdrawing form the plan
Can I draw while still employed

Are you in the U.S. If so, you mean from your pension plan or from Social Security?

Quote:

---

Originally Posted by Wondergirl

Are you in the U.S.? If so, you mean from your pension plan or from Social Security?

---

From my 401k

Quote:

---

Originally Posted by k224456r

From my 401k

---

Depends on the specifics of your plan. Some plans allow withdrawals by active employees, especially if you are over 59-1/2, but others do not UNLESS it's for one of the hardship reasons. Assuming you are not asking about a hardship withdrawal: some plans may require you to wait until age 65, others may not allow active employees to withdraw no matter what your age, but would require you to retire first. So check with your plan administrator to find out what the rules are for the plan as set up by your employer.

FYI - the financial "hardship" reasons that the IRS has defined as requiring employers to allow their active empoyees to make a withdrawal from their 401(k) plan are as follows:

1. Un-reimbursed medical expenses for you, your spouse, or dependents.
2. Purchase of an employee's principal residence.
3. Payment of college tuition and related educational fees and expense such as room and board for the next 12 months for you, your spouse, dependents, or children who are no longer dependents.
4. Payments necessary to prevent eviction of you from your home, or foreclosure on the mortgage of your principal residence.
5. Funeral expenses
6. Repair of a primary residence.