Filing out form on Joe's pension plan. Not RMD . Don't understand?

jokerjudy · ‎June 3, 2019

SteamTrain · ‎June 3, 2019

If he was older than 70.5 during 2016.

....then for a pension...it was an RMD,....and all of it was an RMD...and he received all of his RMD (at least for that one).

Even pension plans with monthly payouts have RMDs...you just have no control over it...whatever the administrator sends for the year is his RMD.

____________________

Other funds, like 401k's and IRA's are things you have to be careful about being sure to take at least the proper RMD amount every year after age 70.5.....but the Pension payout is-what-it-is.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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SteamTrain · ‎June 3, 2019

If he was older than 70.5 during 2016.

....then for a pension...it was an RMD,....and all of it was an RMD...and he received all of his RMD (at least for that one).

Even pension plans with monthly payouts have RMDs...you just have no control over it...whatever the administrator sends for the year is his RMD.

____________________

Other funds, like 401k's and IRA's are things you have to be careful about being sure to take at least the proper RMD amount every year after age 70.5.....but the Pension payout is-what-it-is.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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Filing out form on Joe's pension plan. Not RMD . Don't understand?