Can ALL RMD’s be met with a lifetime annuatized annuity income?
In February 2016 I rolled over my US Government TSP retirement account & purchase an annuitized lifetime annuity that began paying $915 per month since Feb. 2016 for a total of $10,065. I also have other IRA’s that required a $17,000 RMD for 2016. Does the $10,065 from the annuitized annuity counts toward the total RMD of $17,000? I found a related 2014 response on this forum, but need further clarification. What Happens to My RMDs If I Annuitize my IRA Annuity? https://irahelp.com/slottreport/what-happens-my-rmds-if-i-annuitize-my-ira-annuity
Permalink Submitted by Alan - IRA critic on Thu, 2016-12-15 20:49
Starting in 2017, the distribution from the annuitized account will be the RMD for that account only. And any other IRA accounts must distribute their RMD separate from the annuity RMD. 2016 is different because you had a year end balance for all account on 12/31/2015. For 2016 only you can aggregate your RMDs together so the 10,065 counts toward your total RMD for all your IRAs. Take the remainder from the non annuitized accounts.
Permalink Submitted by Berthy Aponte on Thu, 2016-12-15 23:29
May I have your email address? It only shows Alan-iracritic@…
Permalink Submitted by Alan - IRA critic on Thu, 2016-12-15 23:40
Sorry, I do not accept private contact but will be happy to address any further questions you may have here in the forum. Also, here is an article regarding IRA annuities from noted expert Natalie Choate: http://www.morningstar.com/advisor/t/115900778/annuity-inside-an-ira-know-the-rules.htm?
Permalink Submitted by Berthy Aponte on Tue, 2016-12-20 19:48
Appreciate your guidance. Will to read it, but it seems its only availabel to financial advisors.