Substantially Equal Periodic Payments Sample Clauses

Substantially Equal Periodic Payments. You are not subject to the additional 10 percent early distribution penalty tax if you are taking a series of substantially equal periodic payments (at least annual payments) over your life expectancy or the joint life expectancy of you and your beneficiary. You must continue these payments for the longer of five years or until you reach age 59½.
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Substantially Equal Periodic Payments. You are not subject to the additional 10% early withdrawal penalty tax if you are taking a series of substantially equal periodic payments (at least annual payments) over your life expectancy or the joint life expectancy of you and your beneficiary. You must continue these payments for the longer of five years or until you reach age 59½. If you take payments to pay for unreimbursed medical expenses exceeding 7.5% of your adjusted gross income, you will not be subject to the 10% early withdrawal penalty tax. The medical expenses may be for you, your spouse, or any dependent listed on your tax return. If you are unemployed and have received unemployment compensation for 12 consecutive weeks under a federal or state program, you may take payments from your XXX to pay for health insurance premiums without incurring the 10% early withdrawal penalty tax.
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Substantially Equal Periodic Payments. You are not subject to the additional 10% early withdrawal penalty tax
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Related to Substantially Equal Periodic Payments

  • Lump Sum Payments The retiring allowance shall be paid in annual instalments, to a maximum of three

  • Lump Sum Payment Upon award of the contract for this improvement, the LA will pay to the STATE, in lump sum, an amount equal to 80% of the LA’s estimated obligation incurred under this Agreement, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs. Method B - Monthly Payments. Upon award of the contract for this improvement, the LA will pay to the STATE, a specified amount each month for an estimated period of months, or until 80% of the LA’s estimated obligation under the provisions of the Agreement has been paid, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs.

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