Can you make a withdrawal of 401k while on unemployement compensensation in Ma?

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1042265

2026-07-14 19:50

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Yes, you can withdraw from your 401(k) while receiving unemployment compensation in Massachusetts, but it's important to note that such withdrawals may have tax implications and penalties. If you are under the age of 59½, you may incur a 10% early withdrawal penalty in addition to regular income taxes. It's advisable to consult with a financial advisor or tax professional before proceeding to understand the full impact on your finances.

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