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Accounting, Payroll & Pension Issues/Required minimum distribution
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Question
I am 77 and have a qualified pension 401K plan at work. I only work a few days a year (as they need me) and have never done a RMD based on the fact that I am not oficially retired. What constitutes ``retirement,'' and am I in violation of the requiured minimum distribution?
I searched trhe Internal Revenue Code and the regulations. Unfortunately, I could not find a definition for the term retirement or retires. The only way to know for sure is to request what is known as a private letter ruling from the IRS. If the amount that you are required to receive is small, I would play it safe and start taking distributions.
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Accounting, Payroll & Pension Issues
Answers by Expert:
Allen
Expertise
Pension questions ONLY. Pension, profit sharing, and 401(k) plan design, installation, administration and actuarial services; rollovers to Individual Retirement Accounts; taxation of retirement plan distributions
Experience
Over 35years experience in the pension field
Organizations
Various actuarial organizations
Education/Credentials
MBA and various professional certifications
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