SIE Exam Question 899: Answer and Explanation

Question: 899

For the substantially equal periodic payment (SEPP) exception to apply for premature distributions from a retirement plan, payments must continue for __________ or until the participant is __________, whichever is longer.

  • A. 5 years, age 59 ½
  • B. 5 years, age 65
  • C. 10 years, age 59 ½
  • D. 10 years, age 65

Correct Answer: A

Explanation:

For the substantially equal periodic payment (SEPP) exception to apply for premature distributions from a retirement plan, payments must continue for 5 years or until the participant is age 59 ½, whichever is longer.

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