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This is the first time I have heard RMD. I am an 85 year old federal retiree, would that be in the tax that is taken out before I get my money?

Sorry, that is all I needed.
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3 Replies

This is the first time I have heard RMD. I am an 85 year old federal retiree, would that be in the tax that is taken out before I get my money?

If you get a monthly pension income your RMD should be satisfied. 

This is the first time I have heard RMD. I am an 85 year old federal retiree, would that be in the tax that is taken out before I get my money?

If you are receiving pension/retirement income reported on a Form 1099-R, the entire payment is considered an RMD.

PattiF
Expert Alumni

This is the first time I have heard RMD. I am an 85 year old federal retiree, would that be in the tax that is taken out before I get my money?

No, the money that you have taken out is for taxes and possibly health care. 

 

 If you are only getting a federal pension for retirement income, and don't have any IRA's (Individual Retirement Accounts), then you would not be required to take a RMD (Required Minimum Distribution).  

 

@87_marlene_56

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