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  •  I am 71 and participate in my company’s SIMPLE IRA plan. I will begin receiving required minimum distributions this year, but would like to continue to contribute to the SIMPLE IRA plan since I am still working. Is this permitted?

  • An individual inherited an IRA from his father.  He is now twenty eight (28) years old. He wants to withdraw a portion of the inherited IRA balance to pay higher education expenses and to cover living expenses. Will he owe the 10% early distribution penalty since he is under age 59 ½?