retirement age and plan withdrawals

[jvogel]

What is the name of your state? California
I turn 59 1/2 on 9/1/06. Does the 10% early withdrawal penalty from my SEP apply until that date, or can I withdraw without penalty any time during 2006 because that's the year I turn 59 1/2?

 

[ShyCat]

The 10% penalty applies until you actually reach age 59 1/2 on 09/01/06.