Over 55 72T flexibility

L1: Over 55 72T flexibilityI am attempting to help my mother with her 72t distribution. She was unexpectedly laid off this week and will be 55 in May. She will be rolling her 401k and lump sum pension into an IRA. The amount of income will she will need to draw is completely unknown but will not need to be determined until November. Is there flexibility to change the payment amount once we put the wheels in motion since she will be 55? If for instance she gets another job next year can we ruduce her equal payments? I don’t want to suggest putting everything into 1 big account if we have no flexibility to alter the income. Any suggestions?2010-02-05 16:22, By: Rob, IP: [216.163.247.4]
L2: Over 55 72T flexibilityStart by contacting her former employer and find out if they allow periodic distributions directly from the 401(k) plan and whether the distributions can be requested as needed. She has flexibility as long as the funds are in the 401(k) plan and her fomer employer allows periodic distrbutions..She will have no flexibility ifyou rollthe funds into an IRA as the age 55 exemption does not apply to IRAs.2010-02-05 16:38, By: Gfw, IP: [216.80.125.206]