Can I withdraw money from my 401k when I retire at 55 years old?

Hello, Is it right that I can begin withdraw from my 401k without a 10% penalty if I retire from my job? Thank you. Thank you all for your answers.

Public Comments

1. Yes. If you retire the year you turn 55, or older, you can draw on your 401k from your employer without penalty. This is an exception to the rule that you must be 59.5 to take penalty-free distributions. Ask your plan administrator about your options.
2. see #2 Exceptions to the Early Distribution Tax Penalties You do not have to pay the additional 10% tax penalty on your early retirement distribution if you certain exceptions. Exceptions for Early Distributions from a Qualified Retirement Plan such as a 401(k) or 403(b) plan: 1 Distributions upon the death or disability of the plan participant. 2 You were age 55 or over and you retired or left your job. 3 You received the distribution as part of "substantially equal payments" over your lifetime. 4 You paid for medical expenses exceeding 7.5% of your adjusted gross income.** 5 The distributions were required by a divorce decree or separation agreement ("qualified domestic relations court order"),
3. certainly. Exceptions to the Early Distribution Tax Penalties You were age 55 or over and you retired or left your job.