Fixed Amortization Method

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L1: Fixed Amortization MethodDo I understand this correctly; if I use the 72(t) calculator to arrive at a monthly/ yearly figure for the fixed amortization method; is that amount fixed for five years? Or is there a yearly calculation that needs to be done on life expectancy?
Help would be appreciated!2008-02-03 12:01, By: JL, IP: []

L2: Fixed Amortization MethodWhile the IRS has approved the ability to use recalculation with the amortization method, the vast majority of plans do NOT opt for recalc and their annual distribution amount is fixed for the term of the plan. The plan term must last for the longer of 5 years or to age 59.5. So, no annual re calculation NEEDS to be done, unless that is the way the original plan was set up. Re calc adds to complexity and proportionately increases the chance of an error that would bust the plan.2008-02-03 20:02, By: Alan S., IP: []