Here is our post from July 22nd that many of you will want to consider for how much retirement income you can potentially withdraw without penalty. We should have an update on the latest rates within about a week:
Mid-Term AFR Rises for August
The Treasury has published the Mid-Term Applicable Federal Rate for August. The rate now stands at 2.80%, up slightly from 2.76%.
This rate is significant because it is used in the calculation of IRS 72(t) payments. In this context, a rising rate generally allows someone to set a higher initial 72(t) withdrawal amount, provided it is prudent and suitable to do so.
Here is a link to the IRS Revenue Ruling listing the new rate.
For more information on how this rate might impact you, please call Harris Financial Group at (800) 281-3980.