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 $59(1)/(2)$ 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.

Group startsTrue or False