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BenefitsLink > Q&A Columns >

Stop, Look & Listen: Railroad Retirement Benefits Q&A

Answers are provided by Robert S. Kaufman

Disabled Rail Worker With 401(k)

(Posted December 4, 2013)

Question 1081: I am 50 years old and do not have 30 years of service but I receive an Occupational Disability Annuity. When can I withdraw money from my 401(k) account? I would like to pay off my home.

Answer: Because of your disability, you can probably draw out your 401(k) without a federal tax penalty before reaching age 59-1/2. You need to contact the human resources department of your former employer so that you can determine the name of the "plan administrator" to whom you would make the request for a distribution.


Important notice:

Answers are provided as general guidance on the subjects covered in the question and are not provided as legal advice to the questioner or to readers. Any legal issues should be reviewed by your legal counsel to apply the law to the particular facts of this and similar situations.

The law in this area changes frequently. Answers are believed to be correct as of the posting dates shown. The completeness or accuracy of a particular answer may be affected by changes in the law (statutes, regulations, rulings, court decisions, etc.) that occur after the date on which a particular Q&A is posted.


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