SIE Exam Practice Question 543
Question: 543
William, age 56, recently retired from Epsilon Inc., and would like to take a distribution from a retirement plan to pay for medical expenses. Which of the following plans would allow William to take a penalty free withdrawal?
Correct Answer: D
Explanation:
Withdrawals from a 401(k) after separating from service are penalty free if the separation occurs at age 55 or older. The other options would result in an early withdrawal penalty.
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