Guest bmurphy Posted October 13, 2004 Posted October 13, 2004 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 Posted October 13, 2004 Posted October 13, 2004 Yes. After the two-year period, SIMPLE distributions are treated like traditional IRA distributions Life and Death Planning for Retirement Benefits by Natalie B. Choatehttps://www.ataxplan.com/life-and-death-planning-for-retirement-benefits/ www.DeniseAppleby.com
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