Age 70, working full time, can I contrbute to co. 401K plan and when must I take MRD, when I fullly retire??

I’m working full time at age 70 and intend to work until I’m 72 or 73. I’m going to continue to contribute to my company 401K plan because they say I can, however, must I start taking MRD at 70 1/2 like in my regular IRA??
Please advise, thanks so much for your time….

Terry Says:  Yes, you can still contribute to your plan (and it might be a good idea if you get a match), but you DO have to start taking MRD’s in the year after you reach age 70-1/2.  Best to start taking them in the actual year, so you don’t have two distributions the following year.  The amount will be calculated based on the IRS life expectancy tables, and on the balances in all your IRA accounts and 40l(k) — and it will be recalculated every year to reflect withdrawals — and any additional contributions — you make.  Any of your custodians can do the calculation for you if you supply them with ALL the info about your plan balances.