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IRA balance

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Byhopeful retiree

L1: IRA balanceI am planning on retiring later this year. I would transfera portion of the assets from a cash balance retirement plan & 401(k) plan to the IRA to which I would plan to take a 72(t) SEPP distribution from. What would be the date used for establishing the account balancefor the 72(t) distribution? The day of the transfer of assets or another date?2005-05-25 08:42, By: hopeful retiree, IP: [198.7.47.200]
L2: IRA balancePretty much any date that you wanted to use as long as it is reasonable. If it were me, I’d probably use the date and balance after al the transfers are complete. You would also be smart to keep some assets outside the SEPP for emergencies unless you have other sources of funds.
Good luck! 2005-05-25 17:11, By: Gfw, IP: [172.16.1.78]

L2: IRA balanceThank you for the response, It is my intention to have 2 separate IRAs, 1 for the SEPP & the 2nd one for emergencies. Thanks again2005-05-25 19:05, By: hopeful retiree, IP: [216.188.211.94]

L2: IRA balanceHello hopeful,
Don’t take this the wrong way but itappears that you havea lot to learnbefore you attempt to setup your own 72t plan (based on the question you asked).
I suggest that, before you attempt this initiative, you thoroughly “absorb” the contents of this website and possibly purchase additional reference material such as William Stecker’s book (available here also).
Good luck,
gus2005-05-26 02:39, By: gus, IP: [206.149.200.39]

L2: IRA balanceI plan on using both a tax professional & financial professional to set up my 72(t) SEPP plan. I have been visiting this site for several years & may have missed a discussion topic oranswer in the FAQ’s concerning my question.2005-05-26 11:04, By: hopeful retiree, IP: [198.7.47.200]

L2: IRA balanceI plan on using both a tax professional & financial professional to set up my 72(t) SEPP plan. I have been visiting this site for several years & may have missed a discussion topic oranswer in the FAQ’s concerning my question.2005-05-26 11:04, By: hopeful retiree, IP: [198.7.47.200]

L2: IRA balanceFor “gus”
I really don’t understand your post. I don’t the think the question indicated the retiree is in need of major assistance in developing the sepp plan.
2005-06-01 18:08, By: Gary T, IP: [24.145.164.87]

L2: IRA balanceFor Gary T.,
I do not consider recommending a comprehensive review of this site and readingWilliam Stecker’s book as “major assistance.” In fact, I consider it a “required action” before attempting to setup your own 72t plan.
Thanks for your concern.
gus2005-06-03 07:19, By: gus, IP: [206.149.200.180]

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