Sponsored By
Trusts & Estates logo

Reduced RMDs From Retirement AccountsReduced RMDs From Retirement Accounts

What to expect beginning in 2022.

Christopher R. Hoyt, Professor of Law

May 21, 2021

7 Min Read
Hoyt-GettyImages-931522704.jpg

The Department of Treasury issued new tables that will reduce the amount of the annual required minimum distributions (RMDs) that an individual must receive from a qualified retirement plan, beginning in 2022.1 The reduced distributions are a result of updating the life expectancy tables for longer life expectancies from the time that the prior tables had been published in 2002. Most individuals will experience reduced RMD amounts of between 0.3% and 0.5% of what they would have had to receive under the prior tables.

Lifetime Distributions 

Lifetime RMDs must be taken from an individual’s retirement account every year, beginning in the year that the individual attains age 72.2 Failure to receive the full amount of the RMD will trigger a 50...

Unlock All Access Premium Subscription

Get Trusts & Estates articles, digital editions, and an optional print subscription. Choose your subscription now and dive into expert insights today!

Already Subscribed?

About the Author

Christopher R. Hoyt

Professor of Law, University of Missouri

Christopher R. Hoyt, JD is a Professor of Law at the University of Missouri Kansas City School of Law where he teaches courses in the area of federal income taxation and business organizations.  Previously, he was with the law firm of Spencer, Fane, Britt & Browne in Kansas City, Missouri.  He received an undergraduate degree in economics from Northwestern University and he received dual law and accounting degrees from the University of Wisconsin.

Professor Hoyt has served as the Chair of the American Bar Association’s Committee on Charitable Organizations (Section of Trusts and Estates) and is on the editorial board of Trusts and Estates magazine. He is an ACTEC fellow, has been designated by his peers as a “Best Lawyer”, and was elected to the Estate Planning Hall of Fame by the National Association of Estate Planners & Councils.  He is a frequent speaker at legal and educational programs and has been quoted in numerous publications, including The Wall Street Journal, Forbes, MONEY Magazine, The New York Times and The Washington Post