fund withdrawal from 401k

fund withdrawal from 401k

Can partial funds be taken out of a 401 k and how is this accomplished?

2 REPLIES 2

Re: fund withdrawal from 401k

Hi @jdosko401, dependent on your 401k the answer is yes, as a loan. As far as I know it depends on how your employer has set up the 401K rules for your company. Usually you can find out the details on a loan against a 401K by calling the financial services company managing your 401k. A loan however needs to be paid back. 

 

I think there is a way to withdraw funds from your 401k but you get taxed for it, so you lose a lot of value if you do that. Best thing, is if you speak to the employee benefits team at your company or the customer service team at your financial institution.

 

If your account is with Transamerica, you can email to socialcare@transamerica.com to inquire about your specific account.

Re: fund withdrawal from 401k

it is quite easy to get money from your 401 k especially if you are 59 and 1/2 you can get your money out and don't have to pay it back even if you have a loan 

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