Do you know about in-service distributions?
If you're age 59½ or older (ages differ by plan), you may be able to access a portion of your 401(k) while still working and without leaving your employer. Many retirement plans offer an in-service distribution option, allowing eligible participants to withdraw or roll over certain retirement assets before retirement. This often-overlooked feature can provide greater flexibility as you approach retirement. Since eligibility and availability vary by employer, check with your HR department or retirement plan provider to see if this option is available to you.
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Raymond James is not affiliated with Columbia Threadneedle
