Webster Dictionary(3.00 / 1 vote)Rate this definition: Ballad(noun) a popular kind of narrative poem, adapted for recitation or singing; as, the ballad of Chevy Chase; esp., a sentimental or romantic poem in short stanzas.
If you make an early withdrawal from a qualified retirement plan, the amount is added to your gross income (unless you meet one of the early withdrawal exceptions). As part of your gross income, you will owe tax on the distribution at your normal effective tax rate.
Borrowing from Your 401(k) For many workers, this is probably the easiest way to access retirement money early. Some plans allow you to borrow from your 401(k) for a wide variety of reasons. With a 401(k) loan, you can withdraw up to $50,000 (or half the vested balance in your account, if itâs less than that). You then repay your account over a period of up to five years (some employers allow a longer repayment period if you borrowed to buy a home).