Stopping my SEPP without penalty…

You are here:
< Back

L1: Stopping my SEPP without penalty…I have had a SEPP plan in effect since January 2008. At the end of this month it will have been in place for seven full years. My DOB is 1/4/1953 which makes me 61 years of age. I have been in full compliance with the plan rules all of this time. Beginning earlynext year (2015) I will start receiving SS and pension benefits and will no longer require distributions from my IRA. It’s my understanding that I can stop distributions at this time without incurring any penalty. Am I correct on that score?2014-12-01 20:27, By: Buckley, IP: [50.121.113.124]
L2: Stopping my SEPP without penalty…You could, should, have stopped as of 2/1/2013 when you completed 5 years and were 59 1/2. You could have taken no distribution or any distribution after 2/1/2013.2014-12-01 21:13, By: dlzallestaxes, IP: [71.244.106.93]