Medical Center Director. Dr. J. Brian Hancock was appointed Director of the Richard L. Roudebush VA Medical Center by the Secretary of Veterans Affairs on May 1, 2016. In this role, Dr. Hancock is responsible for operations and planning for this Level 1A health system.
To roll money from a 401k plan to a SEP IRA, request a distribution from your 401k plan. You can only request a distribution if you've left your job or are at least 59 1/2 years old.
Tax Penalties. Any money you take out of your SEP IRA before you are 59 1/2 is subject to two tax penalties. First, it's taxed as ordinary income. Second, it's subject to a 10 percent penalty. That is, if you withdraw $5,000, you'll pay tax on that amount plus a $500 penalty for early withdrawal. Once you're 59 1/2, withdrawals aren't limited, even if you're not retired. You can take money out of your SEP IRA without penalty or tax if you roll it over into another IRA or similar tax-deferred retirement plan.