Retirement age in which you will not be charged the 10% early distribution penalty is 591/2, but there are some exceptions with rule 72T. You may also take loans out without the 10% penalty in some plans. All 401k plans and IRA’s where will force you to start taking your RMD’s (required minimum distributions) at age 70 1/2. You can check our more on this at www.irs.gov.
59 1/2 is the age at which you are allowed to take 401k distributions with no penalty. Required minimum distributions must be taken out by age 70 1/2 or additional penalties will be applied.