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age 55 exception

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ByTom

L1: age 55 exceptioni am 55. 35 years with same employer.have defined pension planthat i can take as monthly check or lump sum.also cash balance account & 401k.irs pub 575 sez 55 age rule ok but not from ira.if i roll all 3 into ira do i lose exception rule or do i need to find a different roll over account.2006-02-18 14:48, By: tom, IP: [68.154.173.222]
L2: age 55 exceptionThe defined benefit plan (assuming that you take monthly payments) shouldn’t be subject to the 10% penalty. However, if you roll funds to an IRA, distributions from an IRA are subject to the agen 59.5 rule ann not the age 55 rule.2006-02-19 08:29, By: Gfw, IP: [24.148.5.55]

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