Heidi Retired from GE (Her Employer) at Age 56

question 58

True/False

Heidi retired from GE (her employer) at age 56. At the end of the year, when she was 56 years of age, Heidi received a distribution from her GE sponsored 401(k) account. Because Heidi was not at least 59½ years of age at the time of the distribution, she must pay tax on the full amount of the distribution and a 10 percent penalty on the full amount of the distribution.

---

Definitions:

Preferential Trade Zones

Designated areas in which goods may be landed, handled, manufactured, or reconfigured, and re-exported without the intervention of customs authorities.

Organizational Missions

The foundational goals and objectives that define the purpose and direction of an organization.

Strategies

Long-term plans of action designed to achieve a particular goal or set of objectives, particularly in the context of business, military, or political operations.

Delivery Reliability

The ability of a company to deliver products or services to customers within the promised time frame consistently.