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401k Distributions

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Hal Weiland

Guest
I understand that, having formally retired from the corporation sponsoring my 401k plan and being 55 years old, I can take distributions from that 401k plan without the 10% penalty for early distribution. However, if I take a part time job at a different employer, will I then incurr the 10% penalty because I am then working? - Thanks, Hal
 


ShyCat

Senior Member
Nope. As long as you have terminated service (quit, retired, whatever) from the employer of the 401(k) in the year you turn 55, there is no 10% penalty. Get a job somewhere else, and you're still fine.
 

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