A withdrawal from a qualified plan will incur a 10% tax penalty if it is made

Withdrawals made due to a disability of the participant are exempt from the 10% early withdrawal tax penalty. The IRS recognizes that individuals who are disabled may need access to their retirement funds to support themselves, thus allowing for penalty-free withdrawals under these circumstances.

While first-time homebuyers can access funds from an Individual Retirement Account (IRA) without penalty, this option does not apply to qualified plans like 401(k)s or pensions. Therefore, withdrawals for first-time home purchases do not qualify for an exemption from the 10% penalty in the context of qualified plans.

Withdrawals made to a former spouse due to a divorce decree can be executed without incurring the 10% penalty when they are part of a qualified domestic relations order (QDRO). This provision allows for the equitable distribution of retirement assets in divorce proceedings without penalty; however, it does not represent a general withdrawal scenario.