72(t) SEPP and 401(k) contribution AT THE SAME TIME?

[Sam]

Situation:
Single, female, 44, currently UNemployed by choice. 300K in 401(k).

Plan:
1) Roll 401(k) into Vanguard or Fidelity IRA. Start 72(t) withdrawal, single life, fixed amortization, ~18K/year at today's rate. Continue withdrawal until 59.5.
2) Go back to work a year or two from now. Participate in employer's 401(k) program.

Question:
Can it be done? Is it legal?

Thanks

 

[Martha]

Sure she can, but why? And as you know, she has to continue her withdrawals until she is 59.5.

72(t) Calculator - Financial Calculators from Dinkytown.net

 

[Sam]

Thanks Martha.

She wants to take a long break from work to travel, and possibly to get an advanced degree. Her non-tax deferred saving alone (~40K) is not enough for 2 to 4 years of expenses.