Do the substantially equal payments stop if the individual becomes reemployed with the same or another company?
The payments continue for the greater of 5 years or until the individual reaches the age of 59 1/2. Any modification to the distribution will result in 10% penalties retroactive to the first distribution. The election to make withdrawals prematurely has no bearing whatsoever on whether the individual is employed or not.
Related Questions
- Accounts Payable - The department of a large company whose function is to make payments to vendors and contractors. Theres more to it than that, but who cares?
- Do the substantially equal payments stop if the individual becomes reemployed with the same or another company?
- What if a company or individual does not accept electronic payments?
