Sentences with phrase «governmental defined benefit plan»

A public safety employee can avoid the penalty after turning 50 if the distribution is from a governmental defined benefit plan after separation from service.

Distributions made to you after you separated from service with your employer if the separation occurred in or after the year you reached age 55, or distributions made from a qualified governmental defined benefit plan if you were a qualified public safety employee (State or local government) who separated from service on or after you reached age 50.