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No, you always can’t close an employer-sponsored 401k while you’re nonetheless Performing there. You could possibly opt to suspend payroll deductions; on the other hand, you should reduce pretax Gains and any employer matches.
In everyday life, the sudden takes place. Should you be less than age fifty nine½ and need to withdraw from your IRA for no matter what explanation, you are able to—but it is important to find out What to anticipate in potential taxes and penalties, in conjunction with probable exceptions and other choices for cash.
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