Retirement Benefits (RET) Track Withdrawals Practice Questions

If an employee is faced with unexpected medical expenses, which of the following retirement accounts may allow penalty-free withdrawals?

• AA. Health Savings Account
• BB. Traditional IRA
• CC. Roth IRA
• DD. 401(k)

When can a participant in a 401(k) plan typically begin to take withdrawals?

• AA. At age 62
• BB. At retirement age
• CC. At 50 years old
• DD. Anytime after employment ends

Which statement is true about early withdrawals from retirement accounts?

• AA. They can have severe penalties
• BB. They are always penalty-free
• CC. Taxable income applies to all
• DD. They are limited to certain accounts

At what age can a person begin to take penalty-free withdrawals from a Roth IRA?

• AA. 70_
• BB. 62
• CC. 59_
• DD. 55