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Asked 4/3/2009
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Can I withdraw post-tax funds from my 401k? I am 54 and retired. I have a 401k that I made post-tax contributions to and my previous employer also matched my contributions. I realize that taxes will have to be paid on withdrawal of the employer-made contributions and any interest received on my contributions, as well as theirs. But can I withdraw my post-tax contributions at any time without penalty? Someone once told me I could, but I'd be responsible in reporting the interest earned on the amount I withdrew. If that were true, how would I know what that interest was? Please advise. |
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