“Coping With Retirement” ( JofA, Dec.99, page 67) ignores the most important benefit available to workers who retire before age 59 1/2 with 401(k) plans and IRAs and need additional income to supplement their pensions before Social Security benefits kick in. The article states most arrangements provide a penalty for distributions made before age 59 1/2 except in the case of disability. However, there is another exception that can be found in IRS publication 590, Individual Retirement Arrangements.
