SEPP’s Ending

L1: SEPP’s Ending: To age 59.5? What does it mean?Goal: To end distributions from my 3 SEPP’s ASAP, without busting.SEPP’s: SEPP #1-Started 7/1/90, 1st quarterly distribution 7/25/90, $8,000.00. SEPP #2-Started 1/1/92, 1st monthly distribution 1/10/92, $2,000.00. SEPP #3-Started 1/1/93, 1st annualdistribution 1/10/93,$20,000.00.DOB: 7/23/43Turn 59.5: 1/23/03 Over the past 12 years my January distribution dates have varied between either before or after the 23rd of January for all 3 SEPP’s. If distributions need only be taken “within the month”, may I refrain from taking any distributions from my SEPP’s between 1/1/03 and 1/23/03 without busting? Then, if so, on 1/24/03 may I discontinue all SEPP distributions?If my theory is valid, then “to age 59.5” for me would mean: “the 1st day of the month in which I turn 59.5”.If my theory is all wet, how else may I achieve my goal?Thanx,PCK2002-07-01 11:59, By: PCK, IP: [127.0.0.1]
L2: SEPP’s Ending: To age 59.5? What does it mean?Actually your theory isn’t totally correct since you don’t turn age 59.5 until 1/23. Therefore, any payments scheduled prior to 1/24 should be taken.The real question is whether you have to take an annual payment, or whether you should only take the January portion (1/12th) of the full annual payment. I would tend to take at least 1/12th of the payment in January, but you should really consult with your leagal or tax counsel.I would also guess that there may be additional posts that may offer additional direction.2002-07-01 13:53, By: Gfw, IP: [127.0.0.1]