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re: Leaving state employment. Retirement question.
Posted on 3/27/15 at 12:25 pm to northern
Posted on 3/27/15 at 12:25 pm to northern
No it does not receive interest. You do not get a 20% penalty. They take out 20% for taxes. You get a 10% penalty for an early retirement withdrawal when you file your taxes if you are under 55. If you can do the rollover basically to hold your money till the down payment is required, that would probably be the best avenue.
1
Posted on 3/27/15 at 1:48 pm to Styxion
Rollover no question and hopefully in a year or two when you find a house to buy you will hopefully not need to touch it.
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