Ask Terry Questions Required Minimum Distributions from 40l(k) — or IRA?

Required Minimum Distributions from 40l(k) — or IRA?

By Terry Savage on April 20, 2013 | Financial Planning / Retirement

Ms. Savage, Can 401K and 403-B Required Minimum Distributions be bundled and taken out of an IRA account or do they have to come out of 401K and 403B specific accounts? Thank you for responding.

SAVAGE SAYS: When calculating required minimum distributions (due in the year after you reach age 70-1/2), you have to calculate the year-end balances in ALL of your retirement accounts. That would include IRAs, 40l(k) and 403(b) accounts. (You must have had a diverse career!)? BUT,? you can take the entire amount out of any one account, or partly out of one, and partly out of another, or several accounts.

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