Employee Benefits Blog
Posts tagged required minimum distributions
June 26, 2012
Required Minimum Distributions (RMDs) are minimum amounts that a retirement plan account owner must withdraw annually starting by April 1 of the year following the year in which he or she reaches age 70 ½. Failure to take an RMD on a timely basis results in a penalty of 50% of the undistributed amount, unless due to a reasonable error.