401k withdrawals and IRA 72(t)

L1: 401k withdrawals and IRA 72(t) If a 48 year old retiree that has a 401k wants to make a partial withdrawal from the 401k, and then roll over the remaining 401k balance to a new IRA, will this401kwithdrawal impact the ability to start a 72t SEPP with the new IRA? The purpose for the partial 401k withdrawal would be to use this moneyto help bridge the monthly income received from the proposed 72t SEPP.
Secondly, is it correct to assumea 10% penalty plusordinary income taxes only on the withdrawn 401k amount?2003-06-16 06:23, By: Bob, IP: [127.0.0.1]

L2: 401k withdrawals and IRA 72(t) Hello Bob:
Your plan should pose no problem. And, you tax assumption is also correct; unless, the distribution is so large that it causes a jump upwards into the next tax bracket.
TheBadger
wjstecker@wispertel.net

2003-06-16 07:28, By: TheBadger, IP: [127.0.0.1]