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Qualified Balance Date

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Bystan

L1: Qualified Balance DateI”m 52 years old and retired from verizon in May,2003 with 34 years of service. I opted for cash buy-out and was allowed to roll it over into my company 401K. Netbenefits will allow monthly withdrawals over my lifetime using the amortization method. My question is do I have to wait until January so that I can use the balance as of December 31 or can I start receiving payments in October using the balance as of september. I’ve read the Revenue Ruling 2002-62 but I’m stillnot clear.
P.S….I”ve been reading the group for severalmonth’s now and I think Ihave learned a lot…..Thanks 2003-09-03 19:13, By: Stan, IP: [127.0.0.1]

L2: Qualified Balance DateYou can start now and use the balance as of the end of Setember. NetBenefits should be able to provide you with the details and the payments. 2003-09-03 20:03, By: Gfw, IP: [127.0.0.1]

L2: Qualified Balance DateHello Stan:
For what it’s worth, I concur with Gordon.
TheBadger

2003-09-03 20:32, By: TheBadger, IP: [127.0.0.1]

L2: Qualified Balance DateThanks Guys, I really appreciate your help…..Stan2003-09-03 22:04, By: San, IP: [127.0.0.1]

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