MaryK4
Expert Alumni

Retirement tax questions

Yes, there is an RMD on a pension plan.  However,  your required minimum distribution is the minimum amount you must withdraw from your account each year- with a defined benefit plan, you do not control the amount you can withdraw and there is not a set amount for your balance.  

 

The RMD rules apply to all employer sponsored retirement plans, including

profit-sharing plans, 401(k) plans, 403(b) plans, and 457(b) plans. The RMD rules also apply to traditional IRAs and IRA-based plans such as SEPs, SARSEPs, and SIMPLE IRAs.

 

@Colegirl

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