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 five 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.
