72[t] monthly distribution election

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L1: 72[t] monthly distribution electionIf i make an election under 72[t] at age 55 and i start in September of 06 say. Does my obligation end once 60 monthly payments have been received?In other words i assume that i would have to take the required MONTHLYdistribution from 9/06 thru 8/2011.Thank you for any replies.2009-01-17 03:49, By: Bob, IP: []
L2: 72[t] monthly distribution election>>at age 55 and i start in September of 06 say.Insufficient information. Since you didn’t give a date of birth or the exact date of the first payment, start byusing the last payment date calculator at http://72t.net/Sepp/Irc72tLastPaymentDate.aspx?=1The result will be the date that you can first modify your SEPP plan.2009-01-17 13:31, By: Gfw, IP: []

L2: February Mid-Term RateWow! Getting painful for new plans or recalculated plans. The main concern is that account balances are lowered along with rates and some people will be starting plans that will not support them until the modification date.While I have not heard of any relief proposal covering SEPPS, if the overall economic situation gets much worse, some support may gather for waiving the penalty on these plans. Perhaps something like the flexibility to exceed the indicated amount by x% or something like that. Don’t quote me, just speculating here……….. an idea for a politician to earn some votes.2009-01-16 21:29, By: Alan S., IP: []

L3: February Mid-Term RateIt sure is, Alan. This seems to me to be a 1st class example of why recalculation is an unnecessary hazard in a 72t plan. Now that interest rates are so low, though, it may be useful to recalculate in any new 72t plans once interest rates start rising.I used a rate of 4.0% and the amortization calculation when I started my 72t plan in March of ’05. That seemed low at the time but looks pretty good these days.Also, although my portfolio has suffered losses like most everyone else’s has, I did sell some equities and some TIPS last fall to generate enough cash to see my 72t plan through to completion in March 2010. It is comforting to know that the money is there for that and not dependent upon this flailing stock market for its solvency.2009-01-16 23:51, By: Ed_B, IP: []