401K early withdrawal

[Corporateburnout]

Hi everyone,

I have heard that you can withdraw money out of a 401K plan at age 55 without penalty. Is this true?

 

[renferme]

YES, it's true,
but you may have to pay income tax

 

[Martha]

So long as it is after your separation from service in or after the year you reached age 55.


http://www.irs.gov/publications/p575/index.html