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Withdrawn retirement rolled into Roth IRA
I live in Texas and previously worked for the state. I contributed to the ERS retirement fund the entire time of my employment and when I left the agency, I withdrew my retirement and took some of the money and opened two separate Roth IRAs for my wife and I. Should I be responsible for paying the 10% penalty for early distribution on the entire amount withdrawn or just the money that was not used to open the Roth IRA accounts?
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‎November 11, 2020
9:47 AM