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I'll be out in July and I still have a few questions.
How do you initiate SEPP's. How are they figured, on
life expectancy or time till you reach 59 1/2...or
the five yrs.? [being the longest of the two] Are they
considered ordinary unearned income for taxes?
I'll be 50 and won't need them immediately. Is there
a way to get income from my rollover IRA without taking
a SEPP, and without penalty?....thank-you.You've been alot of help Pix.
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I'll be out in July and I still have a few questions.

Good for you.

How do you initiate SEPP's.

Usually, with a letter of direction or form to your trustee.

How are they figured, on
life expectancy or time till you reach 59 1/2...or
the five yrs.? [being the longest of the two]

They are generally figured using life expectancy (3 different methods) but must continue for the longer of 5 years or attsaining age 59 1/2.

Are they considered ordinary unearned income for taxes?

Yes.

I'll be 50 and won't need them immediately. Is there
a way to get income from my rollover IRA without taking
a SEPP, and without penalty?

Generally no.

IMHO, you should stroll over to the Retire Early Home Page and search on "72t" and "SEPP". You'll get lots of hits and information.

TheBadger
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<<IMHO, you should stroll over to the Retire Early Home Page and search on "72t" and "SEPP". You'll get lots of hits and information.>>

I heartily endorse that suggestion. Additionally, I recommend you read my article "Getting the Money Early" at http://www.fool.com/retirement/manageretirement/manageretirement9.htm along with all the good info on the Retire Early Home Page home site.

Regards..Pixy
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