Does termed employment count as an exemption for early withdrawal of retirement?

[MindyB]

No, terminating employment isn't an exception to the early withdrawal penalty.  If it was unexpected, it could possibly be considered an emergency.  The IRS defines “emergency personal expense" as an unforeseeable or immediate financial need relating to necessary personal or family emergency expenses. (Section 115 of the Secure 2.0 Act)

An emergency will allow you to make a withdrawal, still subject to tax, but without the 10% early withdrawal penalty. ‌You can take one financial withdrawal emergency per year, not to exceed $1,000.

[VolvoGirl]

You can avoid the 10% early withdrawal penalty from a 401k plan if you leave after age 55.

Turbo Tax Blog on Early 401K withdrawals and tax consequences
https://turbotax.intuit.com/tax-tips/retirement/an-early-withdrawal-from-your-401k-understanding-the...

It says....

• employee separation from service at age 55 or older (age 50 for most public safety employees) but only from the plan at the job you are leaving