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Modifying SEPP Distributions

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ByRuss

L1: Modifying SEPP DistributionsMy wife and I have been withdrawing from our IRAs for 18 months using the 72t annunity method. Our IRAs which were invested in various technology mutual funds have declined in value by 74% during that time. Assuming their current value, they will be depleted in 2 1/2 more years. Not only is that bad because of the penalty, it is our entire retirement savings. Would you advise making a drastic cutback in monthly withdrawals and incur the penalty or do you have another suggestion? How should we go about making the cutback if that is your advice?2002-06-18 12:49, By: Russ, IP: [127.0.0.1]
L2: Modifying SEPP DistributionsI’m sorry to hear of your problem, but I won’t offer you the advice that you are seeking. While I know what I would probably do, I strongly suggest that you discuss your options with you accountant/tax advisor.As far as I know, there have been no positive rulings allowing for a change in payment structure. 2002-06-18 13:40, By: Gfw, IP: [127.0.0.1]

L2: Modifying SEPP DistributionsI would like to hear what you would do.2002-06-18 14:30, By: Russ, IP: [127.0.0.1]

L2: Modifying SEPP DistributionsHello Russ:There maybe a partial solution to your difficulties. Drop me a note.TheBadgerwjstecker@wispertel.net2002-06-18 17:03, By: TheBadger, IP: [127.0.0.1]

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