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OT: Question for CPAs and Tax Advisors Posted by MI-Roger [Email] (#882) [Profile/Gallery] (more from MI-Roger) on Sun, 2 Jun 2013 09:52:26 Members do not see ads below this line. - Help Keep This Site Online - Signup |
I retired effective April 1st at age 56. Based on the IRS code I was allowed to remove money from my 401(k) as ordinary income, for any purpose, without incurring the 10% early withdrawal penalty. I have not needed to withdraw money post retirement and my 401(k) is still at my previous employer (actually with Fidelity but linked to my previous employer).
In mid-May I started working again.
If I find myself needing or wanting use of the funds in my old 401(k), am I still eligible to withdraw money for any purpose without the 10% early withdrawal penalty? Or did I lose that provision when I started working again?
I am asking partially for curiosity and partially since my new job is more of a contract position and potentially could result in months long gaps between paychecks.
Thanks,
->Posting last edited on Sun, 2 Jun 2013 09:54:34.
_______________________________________ Saabs owned: 2008 9-5 Aero Sedan, sold at 227K miles 2006 9-3SC 2.0T - Wife's daily driver 2000 Viggen Convertible - Sold May, 2022 1964 Quantum IV Formula Car - Retirement project 2000 9-5lpt Sedan, sold at 318K miles
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