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IRA-SEPP-Disabled

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Byoneflewover

L1: IRA-SEPP-DisabledI was recently terminated, after 26 weeks of short–>long term disabilty. Awarded Soc. Sec. payments of $1750/mo (disability reviewed every 3 years) and $1600/mo in dis. ins. (non-taxable),$80k 401(k) (minus my after-tax contribution) is being xfered to a new IRA. I want to use SEPP to exhaust this IRA in 7 or so years. Can I w/o penalty?P.S. my disability is hepatitus-c induced cirrhosis, on liver waiting-list. I have no intention of returning to work under ANY circumstances 2001-11-14 21:50, By: oneflewover, IP: [127.0.0.1]
L2: RE: IRA-SEPP-DisabledUsing a SEPP, you can’t really exhaut the plan in 7 years. For example, the life expectancy of a 52 year old is about 31.3 years – so for a 52 year old, the balance would be amortized over 31.3 years – use our calculators to determine your life expectancy.If you are totally and permanently disabled, you probably aren’t subject to the 10% penalty tax. Death and Disability have their own exclusions.2001-11-15 16:51, By: Gfw, IP: [127.0.0.1]

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