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Message
re: Rule of 55
Posted on 2/26/26 at 10:47 am to Twenty 49
Posted on 2/26/26 at 10:47 am to Twenty 49
"Yes, the Rule of 55 provision, which allows penalty-free 401(k) or 403(b) withdrawals if leaving a job at age 55 or older, must be included in the documents ERISA plans provide to beneficiaries. This information is typically detailed in the Summary Plan Description (SPD), covering plan features, eligibility, and withdrawal rules."
My plan is governed by ERISA and that the "Board of Trustees intend that the plan will comply with all requirements for a qualified 401k savings plan based on all applicable sections of the IRS Code." I have called and talked to multiple people today about partial distributions. Finally one of them said yes I can withdraw different amounts each month. It was like pulling hens teeth, as none of them wanted to give "financial advice "
My plan is governed by ERISA and that the "Board of Trustees intend that the plan will comply with all requirements for a qualified 401k savings plan based on all applicable sections of the IRS Code." I have called and talked to multiple people today about partial distributions. Finally one of them said yes I can withdraw different amounts each month. It was like pulling hens teeth, as none of them wanted to give "financial advice "
0
Posted on 2/26/26 at 11:15 am to JL
Interesting. My plan is to do these conversions for several years to stay at that 12% top.
Posted on 2/26/26 at 11:18 am to TorchtheFlyingTiger
quote:
Most those dividends (if qualified) will likely fall in the zero LTCG rate (under $98900 married/joint)
Yeah, I need to check the return he just emailed me for 25. I'm guessing some/most of the Qual Divs were under LTCG. I think I'll need to dona mix in 27 of more Cap gains and Roth conversion but to keep it at the 0% LTCG rate for the Divs and Gains.
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