DOES THE IRS TREAT DISTRBUTIONS FROM A PENSION THE SAME AS 4O1K'S?
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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:
Your answer did not list a "defined pension" plan as a qualified plan. Is it?
And if monthly payments from this pension are considered RMD's, does the IRS longevity tables apply or is 100% of the monthly payments considered the RMD?
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