Remove the Early Withdrawal 10% Tax on early withdrawal (age 55) from a Qualified Retirement Plan for individuals whom were "Involuntarily Separated from Service" at age 50 or above and choose to start distribution from a Qualified Retirement Plan after they reach age 55.
Companies are choosing to find loopholes to prevent age discrimination charges by using "Involuntary Separation" to release their older associates (age 40 and above) and whom have been with the company for over 15 years of service. These associates should NOT be taxed 10% for taking an early withdrawal from a Qualified Retirement Plan at age 55 due to an "Involuntary Separation from Service".