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    smclark5051's Avatar
    smclark5051 Posts: 1, Reputation: 1
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    #1

    Feb 7, 2012, 08:45 AM
    401k penalty exemptions?
    I am 60 years old and may need to withdraw due to surgery. Am I exempt from penalties?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Feb 7, 2012, 12:03 PM
    Yes - anyone age 59-1/2 years of age or older may withdraw from a 401(k) or IRA without penalty. Of course you will have to pay income tax on the amount you withdraw.
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