Does anyone have experience or expertise with the age of 55 rule on a qualified plan? I hope to retire soon, within a year I hope. Most of my money is tied up in pre-tax accounts. An IRA and my employers defined contribution plan. I have been taking roll over distributions annually from the employers plan for a while but when I leave I thought about using the 55 rule to get a chunk of cash to help get us through the period until I'm 59-1/2 and avoid the 10% penalty. I'm 56-1/2 now, so a couple years or so. Our plan qualifies for the 55 rule. My question is this, is the use of the 55 rule a one time deal? I will be receiving payment from our plan annually for 10 years until I'm paid out fully. That will roll over into an IRA. Is it possible to use the rule on more than 1 annual distribution? If that is allowable it would make my life a lot easier and my career a lot shorter.