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Question

Asked 3/8/2009

I work for zales corp. and I'm 62 years old, can I withdraw money from my 401k?

How much can I withdraw?

 
 
 
 
 
Answers

Answer 1/2 - Submitted 3/9/2009

At 62 you can withdraw as much as you need. There is no penalty, yet there are taxes.

 
 

Answer 2/2 - Submitted 3/9/2009

Depends on the plan.. some only allow the money you have put in.. not what the employer has contributed.. some plans do not allow in service at all.. some you have to have worked there for 5 or 10 years... Each plan is specifically tailored to the employers decisions.. so please call the administrator to double check..

 
 
 
 
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