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ergndyne
Level 1
November 16, 2022
Question

401K

  • November 16, 2022
  • 1 reply
  • 3 views

My husband is 76 years old. He is working a part time job and contributing to the company's 401K program. Does he need to pull out a portion of that retirement plan each year because he is older than 72.5?

    1 reply

    rferreira 1
    Level 4
    November 16, 2022

    Good news!  Because he is still working and contributing to his 401(k) plan, he does not need to make the required minimum distribution (RMD) each year.  However, once he decides to retire, the clock starts.  

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