starting and ending a 72t

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L1: starting and ending a 72tHi, I’m 51, retiredand have money in a “drop” plan from work, it’s essentially a pension lump sum (city fire dept.). I know that it falls under the penalty if taken out before age 59 1/2. If I decide to take out equal amounts do I have to go to a financial advisor to set anything up or can I just tell the plan administrator how much to give me each year? (I know what the limits are for each year) Also, when I reach 60 assuming I’ve taken equal amounts for at least 5 years, can I then take out any amount I please and not pay a penalty or am I restricted for life to the fixed annual amount as in a lifetime annuity?2005-10-04 14:37, By: Bob, IP: [68.42.161.15]