Hi Rick, 72(t) and rule of 55 are different. Rule of 55 is only applicable to 401(k)/403(b) plans. In the year you turn 55 and separate from service, you are able to pull money from your 401(k) and avoid the 10% penalty. If your plan allows partial distributions, this is the way to go for someone turning 55 and leaving the work force. You are not limited to a formula for withdrawing your money.
72(t) is applicable to IRA accounts and in some cases 401(k) plans if the 401(k) allows for partial distributions and if the plan rules allow. Doing this you are using 1 of 3 formulas to determine how much you can take out of the account. Any mistake in the calculation can subject you to the 10% penalty on All years of distributions, plus interest.

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