Is there a way to withdraw from my 401(k) without being penalized?
I recently had to borrow from it due to hardship (medical) and they charged me 20%.
Answers | 2
1. take "normal" distributions between ages 59 1/2 - 70 1/2, take at least the Required Minimum Distributions (RMD) after age 70 1/2.
3. disability. the 20% charged was probably not a penalty, it was required tax withholding-which you will likely have to pay when you file taxes for 2015.