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Asked 11/30/2008

Will i be penalized 30% plus the 10% forwithdrawal at age 64and still employed?

What penalities are assessed for 401k withdrawal at age 64 and still working full time?

 
 
 
 
 
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Answer 1/1 - Submitted 12/1/2008

You shouldn't have to pay a penalty for withdrawal but the money does count towards taxable income for the year.

 
 
 
 
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