Rule of 55 again

I've read several threads on the RO55 and have additional questions.

I'm 58 and am about to be laid off (along with most of my industry...). The 401(K) for this employer is with Principal. I asked and was told that yes, the plan allows for the RO55.

Main questions:

A lot of the threads here about it involved people actually retiring. I do not intend to. I'm job searching. The R055 does not require that I actually retire, does it?

Unclear whether I can take multiple partial distributions or can only take a single distribution.

Is it a good idea to leave at least $5K in the account to avoid it being rolled over to an IRA?

submitted by /u/Camille_Toh
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