How Can We Help?
< Back
You are here:
Print

Rollover & 72T

Posted
Last Updated On
ByJB

L1: Rollover & 72TI am retiring next month at age 55and have a define benefit plan and a 401k plan. I am thinking of rolling over the lump sum defined benefit to my 401k plan upon separation of employment. Then I want to withdraw monthly from my 401K. Will I need a 72T to avoid the 10% penalty? If needed what account balance will it be calculated on? Also can I withdraw more than the 72Tcalculation if needed?2010-01-29 16:29, By: JB, IP: [207.68.220.150]
L2: Rollover & 72TYou probably don’t need a SEPP plan – start by talking to your Plan Administrator and see if they allow periodic withdrawals from the 404(4) after termination of employment. They will also be able totell you what it will take to transfer the defined benefit account to the 401(k).If you don’t get the answers that you are looking for, come back and we can discuss SEPP plans.2010-01-29 16:46, By: Gfw, IP: [216.80.125.206]

Table of Contents