In 401K plans, if you leave your employer after Jan 1 of the year in which you turn age 55, you may take distributions without paying the penalty. The distributions are taxed as ordinary income, but penalty free.So if she turned 55 in 2011, her distributions should be free of penalty (but spreading them over several years might keep her in a lower income tax bracket).
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Rat