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Your fine to keep withdrawing from the 401(k) - just make sure you don't roll it over to an IRA since you lose that benefit again.
Internal Revenue Code Section 72(t)(2)(A)(v) allows distributions from a 401(k) without penalty upon separation of service of an employee after attainig age 55. It doesn't matter that you go back to work again (even for the same employer) - as long as you had a separation from service.
posted by 67.137.57...
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