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I will be 56 on March 21, 2000. I have just retired after 35 years and elected to take the lump sum pension plan distribution. I received a check for the lump sum last week. I plan on putting the money into an IRA within the 60 day limit. My question is: What will be the consequences if I take $50,000 out right away to pay off my house? I never thought that retiring would be this confusing!! Any input will be appreciated.
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