Early 401k withdrawal at age 50

[privatefarmer]

According to the IRS, if you are a police office, firefighter or “emergency medical personnel” you may withdraw from 401k at age 50 w/o paying 10% early withdrawal penalty. Does anyone know who exactly qualifies as “emergency medical personnel”? I am a pharmacist at a hospital who services an emergency department so am wondering if that may qualify? If so, I may be able to begin FI at age 50...

[terran]

Oh, interesting question. I found this (https://www.irs.gov/pub/irs-pdf/p575.pdf - page 33):

Qualified public safety employees. If you are a qualified public safety employee, distributions made from a governmental retirement plan aren’t subject to the additional tax on early distributions. You are a qualified public safety employee if you provided police protection, firefighting services, or emergency medical services for a state or municipality, and you separated from service in or after the year you attained age 50.

If that's what you're referring to, I think you might not be quite right. Note that it says "...distributions made from a governmental retirement plan..." 401(k)s aren't (necessarily) governmental retirement plans. Not that this would be sufficient proof that you're eligible, but as a first step, is your hospital run by a state university or other government institution, or is it private?

Edit: And just to make sure, do you know that you can get money out of a 401(k) without penalty before 59.5 with a bit of hoop jumping? I certainly wouldn't let that be the thing that stops you from FIREing. See https://forum.mrmoneymustache.com/investor-alley/how-to-withdraw-funds-from-your-ira-and-401k-without-penalty-before-age-59-5/

[TomTX]

Yes, that's a key section I have my eye on.

While firefighting is not my full time job or even in my job description:

I am employed by the State of Texas
My employer trained me in fighting (small) fires
I have used State equipment to put out 2 small-to-moderate fires, while on state time.

Seems to meet the letter of the law. I have been paid to provide firefighting services while working for the State.