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Level 1

Question

401K

Forum|Forum|3 years ago
November 16, 2022
1 reply
17 views

My husband is 76 years old. He is working a part time job and contributing to the company's 401K program. Does he need to pull out a portion of that retirement plan each year because he is older than 72.5?

Level 4

Good news! Because he is still working and contributing to his 401(k) plan, he does not need to make the required minimum distribution (RMD) each year. However, once he decides to retire, the clock starts.

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