One exception to the 401 (k) early withdrawal penalty is known as the rule of 55, and it can allow you to take distributions from your 401 (k) or 403 (b) without having to pay a penalty.

A: Since you are retired, the Age 55 Rule says you may withdraw your funds from your 401 (k) plan and avoid the 10 percent penalty. But if you roll your funds to your IRA and withdraw before 59 1/ ...

According to 401 (k) withdrawal rules, penalty-free withdrawals (called qualified distributions) are allowed once you reach age 59½.

Based on 401 (k) withdrawal rules, if you withdraw money from a traditional 401 (k) before age 59 1/2, you will face — in addition to the standard taxes — a 10% early withdrawal penalty.

Explore Roth 401(k) withdrawal rules, exceptions, RMDs, comparison with Roth IRAs, and different strategies for tax-efficient retirement planning.

Intelligently navigating the rules around 401-K withdrawals can mean a difference of thousands of dollars for retirees, ...

There are some caveats to this age restriction. The rule of 55 is a set of guidelines that allows you to make penalty-free withdrawals from your 401 (k) early if you leave your job after the age ...

No. A special rule applies to 401 (k) plans. The early-withdrawal penalty on 401 (k) plans does not apply after attaining the age of 55. You don't have to wait to age 59 1/2 to avoid the penalty.

Find out more about 401(k) withdrawal rules, such as when plan holders can tap into their 401(k) plan and what to keep in mind. To maximize 401(k), plan holders really shouldn’t touch their ...

401 (k)s and traditional IRAs are similar when it comes to their withdrawal rules. In both cases, you’ll pay a financial penalty for distributions before age 59½ unless certain exceptions apply.

Roth IRAs have withdrawal rules that vary based on your age, whether you’re withdrawing contributions or earnings, and more. Some withdrawals trigger taxes and penalties.