this pertains to the limits on Traditional IRA contributions. there are different limits based on being part of a retirement plan so i need to know if a 401k is considered a retirement plan.
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Yes.
on a pension plan is there a RMD
Yes, there is an RMD on a pension plan. However, your required minimum distribution is the minimum amount you must withdraw from your account each year- with a defined benefit plan, you do not control the amount you can withdraw and there is not a set amount for your balance.
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.
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