Retirement tax questions

The idea behind an RMD (required minimum distribution) is that you must spend your retirement money and you can't just leave it to your kids tax-free.  The RMD is based on your life expectancy.  Because traditional pensions are already based on life expectancy, pension payments already satisfy the rules for withdrawing a minimum amount per year based on life expectancy.  If you have a traditional pension, answer "yes, this is an RMD". 

 

If you have an IRA or other qualified retirement account in addition to a traditional pension, you must still take an RMD from the qualified account.