If you’ve ever wanted to get early access to your retirement savings before age 59-1/2 without having to pay the additional 10% penalty, then you might be delighted to know that there is a little known exception to this process known as the 72t rule. According to the exceptions listed in Section 72(t)(2), the owner of the retirement fund can elect to take distributions using something called a series of substantially equal periodic payments (or SEPP for short).  What this means is that you and the IRS would agree to take out pre-calculated amounts each year for the next 5 years or until you turn age 59-1/2 (whichever is later).  Each of … [Read more...]