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457 Age Withdrawl Rule

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I work for a muncipality with a Fidelity 457 and I know that withdrawls can be made once I retire or terminate employment without the 10% penalty. If we are succesful in getting Fidelity added as a 457 vendor in her school district, will she also be able to take penalty free withdrawls if once she stops working she hasn't attained 59 1/2 years of age?

 

Thanks

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Guest Sierra

I work for a muncipality with a Fidelity 457 and I know that withdrawls can be made once I retire or terminate employment without the 10% penalty. If we are succesful in getting Fidelity added as a 457 vendor in her school district, will she also be able to take penalty free withdrawls if once she stops working she hasn't attained 59 1/2 years of age?

 

Thanks

 

YES!! The 457 rules apply with equal vigor to all eligible plan sponsors, be they municipal governments or public school districts.

 

Joel L. Frank

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I work for a muncipality with a Fidelity 457 and I know that withdrawls can be made once I retire or terminate employment without the 10% penalty. If we are succesful in getting Fidelity added as a 457 vendor in her school district, will she also be able to take penalty free withdrawls if once she stops working she hasn't attained 59 1/2 years of age?

 

Thanks

 

YES!! The 457 rules apply with equal vigor to all eligible plan sponsors, be they municipal governments or public school districts.

 

Joel L. Frank

 

 

AWESOME! Thanks Joel. Now all we have to do is get 10 motivated teachers so that we can get Fidelity on board. AXA is the only rotten choice for now. Thanks again.

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