[Answer] At what age can a participant receive distributions from a qualified plan without incurring a 10% penalty?

Answer: 59.5

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At what age can a participant receive distributions from a qualified plan without incurring a 10% penalty? Retirement Topics Tax on Early Distributions | Internal ... When Can You Withdraw From Your 401k Or IRA Penalty-Free? Age 55 Exception to the 10% Early Distribution Penalty ... IRA FAQs - Distributions (Withdrawals) Wed Oct 30 2013 · Answer:The age 55 exception is one of the exceptions to the 10% early distribution penalty for retirement plan distributions taken prior to 59 1/2. It allows certain individuals to take distributions from their retirement plans at 55 or later (instead of 59 ½) without being subject to … The additional tax is equal to 10% of the portion of the distribution that's includible in gross income. Generally early distributions are those you receive from a qualified retirement plan or deferred annuity contract before re...

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