still working age 701/2 no rmd from 403b
have client who is 70 1/2 this year. am I correct, in statin, that he has to take the RMD from his IRA’s but he does not have to take any rmd’s from his 403b’s since he is still working full time?
He has to start taking from his 403b’s once he stops working or when he turns 75, is that correct?
Thank you,
Douglas
Permalink Submitted by Alan - IRA critic on Thu, 2015-02-26 01:42
That is generally correct, but it is possible that a few 403b plans require all employees to start RMDs at 70.5 even while still working. But that is quite rare. If the 403b allows employees that are still working to defer RMDs, they do not have to start at 75 either.