RMD
I rolled over a 401k into an annuity several years ago and receive a monthly payment (4.5%) from it. Does that annuity get calculated into the RMD when I turn 73?
Terry Says
Yes, you need to look into the “market value” of your annuity — and see if your monthly payment is enough to cover the RMD.
For more details, read this: https://www.retirementwatch.com/are-there-required-minimum-distributions-for-annuities
But since you can’t take more than the monthly payment (which is likely enough) you’d have to take more out of another IRA. Your insurance company that holds the annuity can calculate to see if you’re getting enough every year to satisfy your RMD from this tax-qualified account.
