Ii Joch recently died at the age of 63, leaving a qualified plan account with a
ID: 2620446 • Letter: I
Question
Ii Joch recently died at the age of 63, leaving a qualified plan account with a balance of S1,000,000. Josh was married to Kay, age 53, who is the designated beneficiary of the qualified plan. Which of the following is correct? a. Kay must distribute the entire account balance within five years of Josh's death. b. Kay must begin taking distributions over Josh's remaining single-life expectancy. c Any distribution from the plan to Kay will be subject to a 10 percent early withdrawal penalty until she is 59%. ay can receive annual distributions over her remaining single-life expectancy recalculated each year. d. KExplanation / Answer
C. Any distribution from the plan to kay will be subject to a 10% early withdrawal penalty until she is 59 ½.