InService 401K rollover to an IRA
Are we allowed to rollover our 401K to an IRA while still employed if under 59 1/2 and if not a hardship?
Detail: Plan doesn’t allow for it, but the company is considering modifying the plan.
Unsure if TPA (third party administrator) plan allows for it, and if not, how do we find a TPA that does have that in their plan?
Permalink Submitted by Alan - IRA critic on Wed, 2023-09-13 17:46
IRS rules do not permit in service distributions of elective deferrals prior to 59.5, but the plan can opt to permit distributions of gains or employer matching contributions prior to 59.5.