Yes.
When referring to a retirement
account, MRD stands for minimum required distributions, which are mandatory
withdrawals you must take from certain retirement accounts after you reach age
70 1/2. If you have reached this age, and you have one of the following
accounts, you would need to consult with the account provider to ensure, you
are receiving the proper amount to comply.
Basically, MRD requirements
apply to any accounts that you contributed to on a pre-tax basis, or that
contain tax-deferred investment gains. This includes, but is not limited to:
These minimum
distribution rules apply to:
- traditional
IRAs
- SEP
IRAs
- SIMPLE
IRAs
- 401(k)
plans
- 403(b)
plans
- 457(b)
plans
- profit
sharing plans
- other
defined contribution plans
