Tax Advantage Accounts
Life Events FAQs
Defined Benefit Plans
Information to Review
2018 Premium Rates
2018 Medical Plan Changes
Tools and Resources
Other Items to Consider
There are three types of 401(k) plan In-Service Withdrawals even if you continue working.
At age 59½ you can take In-service withdrawals, which are subject to ordinary income tax but not subject to a 10% excise tax that generally applies to distribution prior to age 59½. IRS rules prohibit any “Money Purchase” portion to be taken as an in-service withdrawal.
At any time prior to retirement, you can take In-service withdrawals of the after-tax portion of your account. This applies to the traditional after-tax portion, not the Roth After-Tax. Generally, after-tax contributions are distributed with a pro-rated share of earnings. The contributions are not taxable. However, the earnings are subject to ordinary income tax and a 10% excise tax if distribution is prior to age 59½.
At any time prior to retirement, you can take in-service withdrawals of the portion of your account attributable to any amounts you had rolled over into the plan from a previous employer’s qualified plan.
If you are eligible for any of these in-service withdrawals, the applicable form will appear in the Request Forms item in the Menu on your 401(k) account at
You can also talk to a John Hancock Retirement Plan Services Participant Service Center representative about In-Service Withdrawals, 1-800-294-3575.