Guest donl Posted February 28, 2012 Posted February 28, 2012 Participant is 57, Plan NRA is 55. Can he withdrawal elective deferral money or does he need to wait until 59 1/2? What is the earliest allowable NRA?
ETA Consulting LLC Posted February 28, 2012 Posted February 28, 2012 He'd have to wait until 59 1/2 for "Elective Deferrals". The NRA age withdrawal is for in-service distributions from pension (i.e. Money Purchase) plans; meaning you cannot take one until the earlier of age 62 or NRA. Good Luck! CPC, QPA, QKA, TGPC, ERPA
MWeddell Posted March 1, 2012 Posted March 1, 2012 Assuming that the participant has not terminated employment or become disabled or have experienced a hardship withdrawal, the plan document may not allow the elective deferrals account to be distributed prior to attainment of age 59½.
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