Join Early Retirement Today
Thread Tools Search this Thread Display Modes
459 account withdrawal rules - if still working
Old 07-15-2009, 02:22 PM   #1
Confused about dryer sheets
Join Date: Jul 2009
Location: mobile
Posts: 1
Send a message via Yahoo to cort
459 account withdrawal rules - if still working

Very different question here than usual, but hope someone can help.
Am 67, working on my third career - fire department city of mobile. contributing to the state retirement program and also to a 459 account. - like a 401. so, can i continue to contribute to the account past 70 1/2, and, further, must i start withdrawing from the account at 70 1/2?

Realize that this is the opposite of what most on this site are experiencing but am betting someone knows the answers here.

cort is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-15-2009, 05:11 PM   #2
Full time employment: Posting here.
GoodSense's Avatar
Join Date: Jul 2007
Posts: 679
I assume you are asking about 457(b) plans? That's the deferred comp plan for public employees.

According to 457(b)wise : 457(b) FAQs, you must start withdrawing at 70 1/2 years old.

I would recommend reading the IRS publication on 457 plans IRC 457(b) Deferred Compensation Plans. You should also call your plan administrator, although a lot of times I found that they don't know a lot more about special cases like yours.
GoodSense is offline   Reply With Quote

459 account

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Hi, Lester here. Any changes to 403(b) withdrawal rules? LesterLundy Hi, I am... 2 03-03-2009 04:41 PM
Health Savings Account/Flexible Spending Account Bongybo Health and Early Retirement 5 07-26-2008 06:46 PM
50 and working (and will be for a while..) tmm99 Hi, I am... 15 07-23-2008 12:10 AM
Almost 50 ... Still Working jayp465 Hi, I am... 10 10-02-2007 10:23 AM
Keep on working? FunGoals Other topics 17 02-01-2005 06:47 AM


All times are GMT -6. The time now is 04:48 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.