Hey all, I know there have been plenty of threads about the Rule of 55 but there are a ton of responses and other sources I have seen on the web that all say you can withdraw from a qualified plan (401k, not IRA), when you are separated from the employer who holds the plan, when you are 55.
Bu the IRS says it differently. It says you can take penalty free withdrawals in the year you turn 55.
Has anyone else been confused by this? My birthday is in September and I would much rather go January 2nd instead if it was anyway possible.
Has anyone left when they were 54 but their B-Day was later in the year?
Thanks.
Bu the IRS says it differently. It says you can take penalty free withdrawals in the year you turn 55.
Has anyone else been confused by this? My birthday is in September and I would much rather go January 2nd instead if it was anyway possible.
Has anyone left when they were 54 but their B-Day was later in the year?
Thanks.