[glendamock]

I am 57 yrs old and have a pension through the union - separate from my 401K that was through my previous employer. If I begin taking distributions from the pension will the distributions be subject to the 10% IRS penalty? Would the distribution be treated like an IRA distribution and subject to the 10% IRS penalty for withdrawal before age 59 1/2?

[ebaines]

In general - yes, withdrawals from a pension plan are subject to the 10% penalty if you are under age 59-1/2. However, there are a coupleof exceptions that may be an exception available to which do not apply tio IRAs: if you were "separated from service" at age 55 or later from the employer who has funded the pension then there is no penalty. Another option is to set up a series of essentially equal distributions - this is called a "section 72(t)" withdrawal.