Yes. A qualified
plan is a retirement plan sponsored by employers for the exclusive benefit of
employees. These plans follow special IRS rules and qualify for special
tax treatment, such as deferring paying taxes on the contributions until
retirement.
As for the required minimum distribution (RMD), you
are required to take your RMD for your IRA and 401(k) accounts. However, if you are asked a question about taking
an RMD (because you meet the age requirements) from your pension when
entering your pension information, the answer is "yes" that this
withdrawal was an RMD and that all the distribution was an RMD (screenshot)
According
to the IRS, you must take your first required minimum distribution for the year
in which you turn age 70½. However, the first payment can be delayed until
April 1 of the year following the year in which you turn 70½. For all
subsequent years, including the year in which you were paid the first RMD by
April 1, you must take the RMD by December 31 of the year.
The
RMD rules apply to all employer sponsored retirement plans, including
profit-sharing plans, 401(k) plans, 403(b) plans, and 457(b) plans. The RMD
rules also apply to traditional IRAs and IRA-based plans such as SEPs, SARSEPs,
and SIMPLE IRAs.
For
more information about RMD, please refer to this IRS website link:
https://www.irs.gov/Retirement-Plans/Retirement-Plans-FAQs-regarding-Required-Minimum-Distributions
