zinger1457
Thinks s/he gets paid by the post
- Joined
- Jul 22, 2007
- Messages
- 3,230
Didn't want to hijack the other annuity thread so thought it would be best to start another one. I also realize many here have a very strong opinion about annuities, my intent is NOT to continue that discussion. I'm NOT looking for opinions if annuities are a good retirement tool or not, that's been beaten to death in the other thread.
I have looked at Vanguards Lifetime Income Annuity and see that they offer several withdrawal options, fixed, inflation adjusted, or a 1-5% graded option. Does anyone know if the inflation or graded adjustment choices meet the 72t requirements for 'substantially equal payments' to avoid the 10% penalty for early withdrawal from a qualified plan?
I have looked at Vanguards Lifetime Income Annuity and see that they offer several withdrawal options, fixed, inflation adjusted, or a 1-5% graded option. Does anyone know if the inflation or graded adjustment choices meet the 72t requirements for 'substantially equal payments' to avoid the 10% penalty for early withdrawal from a qualified plan?