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Asked 4/11/2008
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Early withdrawl for being a police officer Our 401k plan is set at 59 1/2 for the tribe we work for. since we are police officers is there an earlier withdrawl age without penalty because we are consider high risk employees |
Answer 1/1 - Submitted 6/11/2008
No. If your 401k is set up so that you can withdrawal at 59 1/2 then that is the age you will be able to take out your retirement without there being any penalties. Since you are in a high-risk position I would suggest a good life insurance policy to take care of your family or your last bills should something happen to you.
You can take money out without penalties for good reasons like going back to school or a down payment on a house, but for specifics you will have to check your individual policy.
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