Distribution Options

Your ability to receive payments or withdraw money from your MIT 401(k) Plan account depends on your age and your current employment status at MIT.

You may withdraw up to 100% of the value of your account if:

  • you are retired from MIT or your employment at MIT has otherwise terminated, regardless of your age (subject to any applicable penalties)
  • you are working at MIT half-time or less and you are age 59½ or older

Tax Treatment

You will pay federal and state income taxes on your pre-tax contributions and accumulated investment earnings when you receive payments or withdraw money from your 401(k) account.

You will pay no additional taxes on either your Roth post-tax contributions or accumulated investment earnings as long as your withdrawal is after age 59½ and at least 5 years after your first Roth contribution was made.

Find Out About Your Options

  • You can review full details of your distribution options and the steps you need to take to receive payments in the Distribution Options Brochure below.
  • Obtain a printed copy of the brochure by calling a Fidelity Investments Retirement Services Specialist toll-free at (877) MIT-SAVE or (877) 648-7283.
  • Access information about your account through Fidelity NetBenefits.