TIAA
I have 4 IRA’s and an acct left with my previous emplyer which happens to be a TIAA account. (worked at a University)
Under the TIAA portion I have a 401-A and a 403-B.
I am 71 yrs old
I am being told that I must take a separtate RMD from each acct, but in fact I want to take my whole RMD from another IRA I have. Am I getting wrong info from TIAA.
They insist this is an IRS rule. I thought I could take my RMD in full if I want from any IRA that I have.
PLease advise.
Thanks
Permalink Submitted by mk foss on Fri, 2012-11-09 17:43
You can take your IRA RMD from any one of your 4 IRAs. If you had more than one 403(b) you could combine RMDs and take the total from just one 403(b), but you just have one so you must take an RMD from it. With a 401(a) which is a qualified plan, you must take the RMD on a plan by plan basis – no combining with any other retirement plan of any type.
If you want to take just one RMD you must first roll the 401(a) and 403 plans to IRAs. Then for 2013, you can use one IRA for all RMDs. For 2012, it just won’t work.
You are receiving correct information from plan administrators.