Scott,age 68,has accumulated $850,000 in a defined contribution plan,$100,000 of which represents his own after-tax contributions.If the full amount is distributed in 2012,his early distribution penalty is:
A) $0.
B) $75,000.
C) $85,000.
D) $127,500.
E) None of the above.

Question

Quizplus · Accepted Answer

Scott is 68 years old, which is above the age of 59½, so he is not subject to the early distribution penalty.

Scott,age 68,has Accumulated $850,000 in a Defined Contribution Plan,$100,000 of Which