Early Retirement, Defined Benefit Retirement Plan, Tax
My company allows distribution from the cash balance plan (a defined benefit plan) if one leaves the company at age as early as 55 and having at least 10 years of service with the company. Does this early distribution incur any tax penalties like if one gets early distribution from a defined contribution plan (like a 401k plan) before one gets 59 1/2 years old? Tried to google it but couldn't find any answer. If you have the answer (and better yet have the references), I'd appreciate.