A. You leave your job in the calendar year that you will turn 55 or later (or the year you will turn 50 if you are a public safety worker, such as a police officer or air traffic controller). You can leave for any reason, including because you were fired, you were laid off, or you quit.

•    You are withdrawing funds only from a 401(k) account offered by your most recent employer. You cannot withdraw money penalty-free from accounts with other past employers, nor can you make penalty-free withdrawals from an IRA, even if you rolled over your 401(k) into one upon leaving your most recent job.

•    Birth or adoption: Distributions up to $5,000 per child for qualified birth or adoption expenses

•    Death: After death of the participant/IRA owner

•    Disability: Total and permanent disability of the participant

•    Domestic abuse victim: to a victim of domestic abuse by spouse or domestic partner up to $10,000 (or 50% of account value)

•    Education: Qualified higher education expenses

•    Emergency Personal Expense: One distribution per calendar year for personal or family emergency expenses up to $1,000

•    First time homebuyer: may withdraw up to $10,000 

•    IRS Levy

•    To pay health insurance premiums while unemployed

•    Terminal illness: distributions made to a terminally ill employee after the date the employee has been certified by a physician as having a terminal illness