Any additional insights on the difference between Rule of 55 and 72T??
Rule of 55 - an employee who retires, quits or is fired at age 55 or after can withdraw without penalty from their 401K. It must be a 401k - cannot be an IRA.
72T - Distributions can occur at any age, calculating life expectancy and use that to calculate 5 substanitally equal payments from a retirement plan for 5 years in a row before the age of 59 1/2. Can this be from a 401k OR IRA???