Withdrawal permitted when the participant does not meet one of the traditional triggering events.
Under a 401(k) plan, an in-service withdrawal of elective contributions may not be distributed before a triggering event occurs.
A plan may limit in-service withdrawals to hardship.
A plan can provide that participants can withdraw profit sharing contribution amounts before reaching age 59 ½, or experiencing any other triggering event . Cite: Treas. Reg. §1.401-1(b)(1)(ii)
IRC §401(k)(2)(B)(ii), Treas. Reg. 1.401-1(b), Revenue Ruling 56-693, Revenue Ruling 68-24, Revenue Ruling 71-295, Revenue Ruling 74-55,