Scott, age 68, has accumulated $850,000 in a defined contribution plan, $100,000 of which represents his own after-tax contributions. If the full amount is distributed in 2017, his early distribution penalty is:
A)$0.
B)$75,000.
C)$85,000.
D)$127,500.
E)None of the above.

Question

Quizplus · Accepted Answer

Scott is over 59½ years old, so he is not subject to the early distribution penalty.

Scott, Age 68, Has Accumulated $850,000 in a Defined Contribution