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QP401k Separation from Service Distribution Request Form

QP401k Separation from Service Distribution Request Form

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hi everybody welcome back to the tenth of an hour with griffin bridgers for today's episode episode 111 we're going to talk about the rule of 55 we're going to look into early distributions from qualified retirement plans you can receive penalty free if you retire after reaching the age of 55. now as always this presentation is not intended to substitute for legal or tax advice and is provided for educational purposes only so generally it's well known that there's a 10 penalty tax that can apply if you take an early distribution from an ira or from a qualified retirement plan like a 401k so the cutoff for when that tax usually applies is age 59 and a half if you take a distribution before age 59 and a half then you're gonna have to pay ordinary income tax on the distribution plus a 10 penalty tax on the taxable portion of that distribution as well however if you take the distribution on or after reaching the age of 59 and a half there is

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