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I would like to retire at age 55. I will have about 300,000 in my company 401K and will also be getting a lump sum of about 400,000 additional from the company pension plan. Since I am not 59 1/2 I believe I will need to use IRC 72 (t) to avoid paying the 10% penalty. My question is do I have to put all the money into one IRA or can I split it up any way I want, into as many IRA's as I want and then pick the IRA to draw from using IRC 72 (t)? For example if I decided I wanted to draw 50,000 per year for the 5 years can I set up an IRA with 250,000 and draw from that one and not touch the others?
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