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I have been hearing recently about a 15% penalty on deferred retirment savings (401k) if they exceed a certain dollar figure. Can someone give me the specifics. Is it total retirement savings or total retirement income, or just 401k's or deferred investments? I have read two different figures. One is 1,500,000 in savings and the other was 100,000/yr in disbursments? I am a long way from getting hurt by that, but would like to know anyway...
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