IRA withdrawals are considered early before you reach age 59½, unless you qualify for another exception to the tax. The short answer is that yes, you can withdraw money from your 401(k) before age 59 ½.Required Minimum Distribution (RMD). Learn more about the rules for RMDs. Generally, anyone can make an early withdrawal from 401(k) plans at any time and for any reason. However, these distributions typically count as taxable income. An annual return is required whether you have tax due or not. You can take money out before you reach that age. OPERS provides age and service retirement, disability benefit and survivor benefit programs for public employees throughout the state. OPERS: Your Pension System.