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Log on to your online bank account and verify that you have sufficient funds in the account to cover the direct deposit payment you want to make. Follow the prompts to enter the information from Step 2. Enter the amount you wish to pay. Again, follow the prompts to authorize and send the payment.
The IRS dictates you can withdraw funds from your 401(k) account without penalty only after you docHub age 59, become permanently disabled, or are otherwise unable to work.
Generally, youll need to complete some paperwork, and describe why you need early access to your retirement funds. Unless youre 59 1/2 or older, the IRS will tax your traditional 401(k) withdrawal at your ordinary income rate (based on your tax bracket) plus a 10 percent penalty.
APERS members can register for access to their information plus great retirement planning tools and secure private messaging in the Members Self-Service (MSS) portal right here on our website. In the top right corner of every page on our website (.apers.org), the LOGIN bar shows the MEMBERS link into the portal.
Withdrawing Money from the Fund The answer to all of these is no. The only way you can get money from APERS is to retire or to terminate your covered employment.
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People also ask

Generally, the amounts an individual withdraws from an IRA or retirement plan before docHubing age 59 are called early or premature distributions. Individuals must pay an additional 10% early withdrawal tax unless an exception applies.
You can withdraw money from your IRA at any time. However, a 10% additional tax generally applies if you withdraw IRA or retirement plan assets before you docHub age 59, unless you qualify for another exception to the tax.
Get a direct deposit form from your employer. Ask for a written or online direct deposit form. If that isnt available, ask your bank or credit union for one. Weve included a list of forms from top banks and credit unions, including the and Bank of America direct deposit forms.

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