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When can I withdraw funds from my account?

Once funds have been contributed to your 401(k) account, they can only be removed under certain circumstances:

Retirement
When retiring from your current position, you are allowed to remove funds from your ShareBuilder 401k. Please note that if you retire before age 59 ½, you may be subject to withholding or other penalties.

Financial Hardship
If you experience what the IRS defines as an "immediate and heavy financial need" you may be allowed to request a withdrawal of assets from your 401(k) account. This could include purchasing a home, college tuition or certain medical expenses. Please be aware that these withdrawals may be subject to withholding or other penalties.

Termination
If you leave the company for any reason, you will have the option of removing funds from your 401(k) account. In some cases, you may be required to remove your assets from the account.

Age 59 1/2
Once you have reached age 59 1/2, you are eligible to make penalty-free withdrawals of assets held in your 401(k) account.

Death
In the event of your death, assets would be disbursed to the beneficiary(s) you have designated. Disbursements initiated by the death of the account holder are generally not subject to any early withdrawal penalties.

Disability
If you are seriously or permanently disabled, you may be allowed to request a withdrawal of assets from your 401(k) account. Please be aware that these withdrawals may be subject to withholding or other penalties

Note: These definitions are general in nature, and may not address details unique to your company's 401(k) plan. Please direct any specific questions about your 401(k) plan details to the authorized 401(k) contact person(s) at your company. This is provided for informational purposes, please consult with a tax advisor or attorney for any questions regarding the tax implications of a withdrawal as each set of circumstances may differ.


Need more help?

If you still have questions about this topic or want additional information about ShareBuilder 401k, please contact our Customer Care team at 1-800-943-6108. Our agents are available from 9am - 8pm (Eastern Time), Monday-Friday, except for market holidays.