Settlement Fund

[Breezy5122]

I received a settlement regarding a past 403B plan.  The code indicates I received this as early retirement but I'm now 73.  I'm being charged a 10% fine for this.  Is there a way to eliminate that? 

[BillM223]

First, what is the code in box 7 on your 1099-R? This is the first thing to investigate - why did the pension administrator use that code (perhaps they should not have)?

Second, please review the Retirement topics - Exceptions to tax on early distributions to see if any exceptions jump out at you.

Third, I wonder if you were less than 59 1/2 when the original distribution from the 403(b) should have happened? Were you?