1 Distributions of less than $200 are not subject to federal taxes. All items listed in these columns are based on the assumption that the distribution is paid to the participant directly. If the participant rolls over the distribution to an IRA or another qualified plan, the distribution is tax-free.
2 In general, early distributions (those made to participants before they turn age 59 ½) are subject to a 10% early distribution penalty.
3 Non-spousal beneficiaries may ask to have benefits distributed by the plan in a plan-to-plan transfer to an inherited IRA.
4 10% early withdrawal tax does not apply if from an IRA as long as the funds are used to buy a first home, pay for college, or needed due to financial hardship.
5 Distribution treated as though it were paid in a direct rollover to an eligible retirement plan if the distribution is eligible for tax-free rollover treatment and is re-contributed to an eligible retirement plan with the 3-year period beginning on the day after the date on which the distribution was received.
6 Non-spousal beneficiaries may ask to have benefits distributed by the plan in a plan-to-plan transfer to an inherited IRA.
7 Generally, distributions made prior to age 59 1/2 will be assessed an additional 10% early distribution tax.
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