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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...
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