Normal retirement age for a golden 80 retiree, if it is a normal industry retirement age, can it be less than 59 1/2 age to avoid the 10% early withdrawal penalty

[della7977]

husband retired at 58 years old from union bakery which offered a golden 80 retirement. number of years he worked in the union and the age he was when he retired added up so the required golden 80 rules were met, he retired according to normal industry standards, does this exempt him from the early retirement penalty of 10%

[RichardK]

Your husband can avoid the 10% early withdrawal penalty if he is taking a "Series of Substantially Equal Payments", click here for the IRS Exceptions to tax on early distribution.