Heidi Retired from GE (Her Employer)at Age 56

question 86

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:

Laughing

Laughing is the act of making spontaneous sounds and movements of the face and body that are the instinctive expressions of lively amusement or sometimes contempt or derision.

Public Places

Locations which are open and accessible to all members of the public, including parks, libraries, roads, and public squares.

Exchange Theory

An analytical framework positing that social behavior is the result of negotiations between parties in an attempt to receive benefits at the lowest possible cost.

Social Interaction

The way people relate to one another and influence each other's behavior within a social context.