That's really suspicious. I'm tempted to say he was lying to you deliberately so that you'll keep your money in their hands longer. Here you can read the IRS 401(k) resource guide - Plan participants - General distribution rules. It has sections on required minimum distributions, hardship distributions, and loan options. The official info lines up with what NotInFormation wrote.
That's really suspicious. I'm tempted to say he was lying to you deliberately so that you'll keep your money in their hands longer. Here you can read the IRS 401(k) resource guide - Plan participants - General distribution rules. It has sections on required minimum distributions, hardship distributions, and loan options. The official info lines up with what NotInFormation wrote.