Earliest age allowed I've seen is age 55. Keep in mind that if you roll money out of your plan into an IRA prior to age 59 1/2 you will be subject to slightly different IRA distribution rules from that point on. That means no more loan access, no more waiver of the 10% penalty for pre-59 1/2 distributions if you've retired early. I'm assuming you're looking to roll this money into an IRA. Hopefully, not intending to take a distribution and pay taxes. But as several others have indicated already, just call and ask or have the HR folks or plan custodian tell you how to get a copy of the plan summary plan description. It will tell you if they are allowed and if so, at what age.
Hi Robin! You would need to verify this with your Human Resources department. Each retirement plan sponsor can have different rules for their plan, so only your company or the group that manages your retirement plan would know what your opportunities for an in-service withdrawal would be. Good luck!
Howdy. The quickest way to see if the plan allows In-Service Withdrawals is to take a look at the Summary Plan Description. There should be a withdrawal section that tells you the plan's rules on this. Typically, if allowed, the minimum age on withdrawals is 59 1/2, but plans can vary from that. Good Luck.
If you have a copy of your Summary Plan Description you should see an explanation of how you can take a distribution from the Plan. You may find that the inservice age varies depending on which type of balance you would like to distribute. For example, the age for an inservice distribution of your employer's profit sharing contribution account (if any) can be different then the age necessary to distribute your employee contribution account.
Get your most current plan statement, call the Customer Service 1-800 number, and ask them. You should also have access to your plan info on your company's website.