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Full Version: Exception to 10% early withdrawal penalty
BenefitsLink Message Boards > Retirement Plans > SEP, SARSEP and SIMPLE Plans
bmurphy
Once the 25% penalty period on SIMPLE distributions has expired, do the exceptions to the 10% early withdrawal penalty apply as they would to any IRA? Participant is asking if they can take money out of their SIMPLE for qualified college costs.
Appleby
Yes. After the two-year period, SIMPLE distributions are treated like traditional IRA distributions
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