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Asked 12/7/2007
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Early Withdrawl 403b Can you withdraw money before age 591/2 from a 403b plan (not claiming hardship) if you are willing to pay the 10% penalty? |
Answer 1/1 - Submitted 12/7/2007
You should check your account agreement for specific details, but here is general info.
Money can only be taken out without penalty if you die, if you are totally disabled, or if you qualify for "financial hardship".
Financial hardship is when you need money to pay educational expenses for you or your dependent (only if they are due in the next 12 months), make a down payment on a primary residence, pay medical expenses for you or dependents or to prevent foreclosure or eviction.
Otherwise you will pay the 10% early withdrawal fee.
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