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From: tut@sun.uucp (Bill Tuthill)
Newsgroups: net.taxes,net.invest
Subject: Re: New penalty on 401k plan withdrawals
Message-ID: <6838@sun.uucp>
Date: Wed, 3-Sep-86 15:52:54 EDT
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Posted: Wed Sep  3 15:52:54 1986
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Xref: mnetor net.taxes:560 net.invest:1170

> Tom Gross writes: 
> 
>  It may not be that 28%+15% will equal out to what your original tax
>  would had been on your 401k contribution, if 401ks had never existed,
>  but how much complexity do you want?

Where did this 15% figure come from?  Yesterday's Wall Street Journal
(September 2nd) pegs the penalty at 10%, the same as for an IRA.

Bill Tuthill