457b distribution
I retired at age 55 as a public safety employee in California. Do I pay the 2.5% early withdrawal penalty on 457b distributions? The federal 10% is exempt.
I retired at age 55 as a public safety employee in California. Do I pay the 2.5% early withdrawal penalty on 457b distributions? The federal 10% is exempt.
For California, there is an exception to the early withdrawal penalty for public safety employees after separation from service after age 50.
See this CA Revenue document.
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