457 plan for municipal employee and “in-service” distribution
Hey, have a question. If you work for a municipality and have obtained the age of 59 1/2 and still employed, do these plans typically offer an “in-service distribution option?” Thank you for your help in advance.
Permalink Submitted by Alan - IRA critic on Sat, 2024-05-18 21:38
It depends on the specific plan. Per the Secure Act of 2019 the distribution is allowable, but only if the plan administrator has adopted the change. You will have to check with your plan.