401K, IRA and Pension withdrawals
I appreciate the wisdom and experience of those who post on TOTV, so here are some questions:
This is my situation: I have a 401K with my current employer, a rollover traditional IRA and my current employer also has a pension plan that I'm eligible for when I turn 59 1/2.
401K - Let's say I stay at my current job until I reach 60, then retire from that job. Can I take withdrawals from my former employer's 401K plan and then get another full-time job somewhere else? Would my 401K plan withdrawals be considered taxable income if the withdrawals are made after 59 1/2?
IRA Rollover - Traditional - If I keep working full time after 59 1/2, can I start withdrawing from my IRA at 59 1/2, or does a person have to be fully retired to start withdrawing from a traditional IRA? Please confirm -- I will have to pay taxes on withdrawals I make after age 59 1/2 from a traditonal IRA.
Pension - This question may have to be answered by my employer's HR department, but I thought I would ask anyway. If I retire from my current job at 60 and I take another full-time job, can I start withdrawing at age 60 from my former employer's pension plan, or do I have to be fully retired to start collecting from my former employer's pension plan?
Thanks in advance.
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