We provide a variety of financial calculators to assist you in understanding your financial needs and how you can address them using various financial and investment plans.
Retirement Savings and Planning
The Internal Revenue Code section 72(t) and 72(q) can allow for penalty free early withdrawals from retirement accounts under certain circumstances. These sections can allow you to begin receiving money from your retirement accounts before you turn age 59-1/2 generally without the normal 10% premature distribution penalty. Use this calculator to determine your allowable 72(t)/(q) Distribution and how it maybe able to help fund your early retirement. The IRS rules regarding 72(t)/(q) Distributions are complex. Please consult a qualified professional when making decisions about your personal finances. Please note that your financial institution may or may not support all the methods displayed via this calculator.
Rule 72(t), issued by the Internal Revenue Service, permits penalty-free withdrawals from IRA accounts and other tax-advantaged retirement accounts like 401(k) and 403(b) plans. To take advantage of this rule, the owner must take at least five substantially equal periodic payments (SEPPs), and the amount of the payments depend on the owner's life expectancy as calculated through IRS-approved methods.
This rule permits account holders to benefit from their retirement savings before retirement age, through early withdrawal, without the otherwise-required 10 percent penalty. The IRS still subjects the withdrawals to account holder's normal income tax rate.
Tax services are not offered through, or supervised by The Lincoln Investment Companies. None of the information in this document should be considered as tax advice. You should consult your tax advisor for information concerning your individual situation.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. When you access one of these sites, you are leaving www.lincolninvestment.com and assume total responsibility for your use of the sites you are visiting.