RP & EB - Chapter 3 - Administration of Qualified Plans

Question 1

Avoid 10% Penalty: Qualified Plans vs IRAs

Answer 1

Qualified Plans:
they make a “MESS AT D3Q”
(Medical expenses, Equal periodic payments, Separation from Service, Age, Tax levies/Terminated Illness, Death, Disability, Disaster, and QDRO)

IRAs:
they say “HIDE ME”
(firs time Home purchase, health Insurance, Death/Disability, higher Education, Medical expenses, Equal periodic payments, and of course, age)