I am a retired teacher, and receive a monthly payment. I cannot take money out of it. If I die my daughter gets nothing . I don't get this rmd stuff.

zbeqc39- · ‎June 6, 2019

I don' understand this rmd stuff.

IreneS · ‎June 6, 2019

You generally have to start taking withdrawals from your IRA, SIMPLE IRA, SEP IRA, or retirement plan account when you reach age 70½.

Your required minimum distribution (RMD) is the minimum amount you must withdraw from your account each year. Since you are already getting distributions from your retirement plan, you're OK and don't have to worry about RMDs.

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I am a retired teacher, and receive a monthly payment. I cannot take money out of it. If I die my daughter gets nothing . I don't get this rmd stuff.