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55 retirement

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ByRon

L1: 55 retirementI’m 55, my company moved to Mexico and I will officially retire Aug 24, 2004. I have a 225,000 in my 401K and 90,000 coming from my pension. What can I take now for retirement without any penalties? 2004-06-28 18:23, By: Ron, IP: [205.188.116.209]
L2: 55 retirementHello Ron:
From now until 8/24/04; nothing. After 8/24/04, as long as you leave your assets in the 401(k) plan, you can take out whatever you want without penalty.
TheBadger
wjstecker@wispertel.net
2004-06-28 19:22, By: TheBadger, IP: [66.250.23.21]

L2: 55 retirementIs the $90,000 your annual lifetime pension?2004-06-28 19:25, By: redwoods, IP: [67.80.22.51]

L3: 55 retirement90,000 is my lump sum pension.2004-06-28 20:10, By: Ron, IP: [64.12.116.209]

L2: 55 retirementYou may want to effectuate a rollover of your $90,000 lump-sum distribution from your pension plan to your 401(k) plan. You will then have only one account to keep track of.2004-06-28 21:53, By: Redwoods, IP: [67.80.22.51]

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