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Clarification on the age 55 exemption rule

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Bylmbost

L1: Clarification on the age 55 exemption ruleMy understanding is that one may qualify for the age 55 exemption when taking an IRA or 401(k) distribution ifone separates from the employer attached w/ the account in the YEAR that the person turns 55, not necessarily at age 55. Is this correct? I really appreciate all of the great information on this board! Thanks.2007-10-26 08:00, By: lmbost, IP: [64.80.112.150]
L2: Clarification on the age 55 exemption ruleYou are right about the 401(k) plan.
However, the age 55 exempton does not apply to an IRA2007-10-26 08:05, By: Gfw, IP: [24.148.16.150]

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