72t/401k

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L1: 72t/401kIn 2000 I retired from my company at age 50 after 26 yrs.I transferred my 401k and my lump sum pension to ML and set up 3 distimct and separate IRAS. In 2001 I set up individual SEPP distributions on 2 of the 3 IRAS. In Oct 2002 my previous employer offered me an opportunity to return to them reinstating my benefits and time. I am now back for 3 yrs and have achieved age 55. In those 3 years I have put 80k into the 401k and have probably accumulated an additional pension amount of around 50K. My question is, since I am now 55, if I reretire again in the next year or so can I withdraw the 80k in my 401k penalty free( just be liable for taxes) . Thanks for a great site….I read it daily2005-09-17 10:22, By: ED, IP: [68.60.250.32]
L2: 72t/401kHello Ed:
Yes, provided that you separate from service; e.g. quit.
TheBadger
wjstecker@wispertel.net
2005-09-17 14:51, By: TheBadger, IP: [66.250.23.21]

L2: 72t/401kMy separation will be my retiring again….any issues ??2005-09-17 19:04, By: Ed, IP: [68.60.250.32]

L2: 72t/401kGood morning, Ed:
For the third IRA at ML that is not part of the SEPP Plan, have you added any money to it that did not come from your original 401(k)? If not then you should be able to rollover that IRA back into your K-plan and it will get the same, favorable treatment as the new contributions of 80K. This is the concept of a “conduit IRA.” The trick is not to “commingle” other, contributory IRA monies with the funds you transferred from the K-plan.
Jim2005-09-18 22:53, By: Jim, IP: [68.230.161.69]