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Withdrawals

401(k) Withdrawals can only be requested (without hardship penalties being applicable) at age 59 1/2 or above.  A withdrawal is considered taxable income and will be reported to the IRS. In most cases, Principal will deduct a minimum of 20% from the withdrawal amount for Federal Withholding taxes that you will owe to the IRS (Roth withdrawals or parsonage withdrawals may not be subject to these tax withholding percentages) . 

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 See the Summary of Plan Provisions for more details. 

 

Confidential Consultation 

If you have questions about a withdrawal, please contact Barb Seckler, Finance Manager, at 407-671-9700 ext 108 or barb.seckler@reliant.org for a confidential discussion of your options. 

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