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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.