Speak with a Professional Before Initiating a 72(t) Exception Executing an early retirement 72(t) exception correctly will provide a stream of penalty-free income. Nevertheless, if it is done incorrectly, you …
There are several ways you can “bust” a 72(t) SEPP distribution and the consequences can have a severe financial impact if the account is not managed properly. If you take …
Jerry “Doc” Hall, the 72(t) Planning Pioneer Jerry “Doc” Hall, Ph.D, was a visionary, and we want to honor this man who passed away in March, 2014 at the young …
An IRA Rollover Explained Generally, after a person retires, quits or is let go, they are given the option to “Rollover” their retirement plan(s) into a new company’s plan, if …
Q: Does 72(t) apply to a Roth IRA or any non-IRA accounts? A: 72(t) distributions are not applicable to a Roth IRA, as the dollars that were originally contributed to the Roth IRA have already been …
The answer is, “No,” but in many cases, we recommend that you do. An employer-sponsored 401(k) or pension often carries restrictions on withdrawals and limited investment options, as well as …
I recently wrote about the 72(t) rules and we are often asked, “Are there exceptions to IRS rule 72(t) for early retirement income?” Most retirement plan distributions are subject to …
Q: How do I get my 401(k) retirement plan funds without penalty? A: If you take a distribution from your retirement plan early, meaning “before the day you turn 59½ or age 55 …
The 72(t) distribution will NOT be subject to the 10% additional early distribution tax in the following circumstances: Age: after participant/IRA owner reaches age 59½ Automatic Enrollment: permissive withdrawals from a plan …
A: The answer is, “Yes.” Remember, retirement accounts are 100% tax deferred until you start taking withdrawals. Whether you are at, above, or under age 59½, 100% of the dollars …
