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Triggering Event
What does it mean?
A certain milestone or event that a participant in a qualified plan must experience in order to be eligible to receive a distribution from a qualified plan.
In Other Words...
Triggering events are typically characterized by the attainment of retirement age (as defined under the plan), termination of employment, termination of the plan, the participant becoming disabled (as defined under the plan), or the participant being deceased.
In some cases, in-service withdrawals may be permitted within the plan, allowing for tax and penalty free distributions before a triggering event occurs.
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Related Terms
In-Service Withdrawal | IRA | IRA Adoption Agreement and Plan Document | IRA Conversion | Non-Qualified Distribution | Ordering Rules | Qualified Distribution | Recharacterization | Reconversion | Required Minimum Distribution | Roth IRA | Spousal IRA
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