RMD’s From 403 (b) Accounts
If my wife owns two 403 (b) accounts with the same employer (one containing employer contributions and no in-service distribution ability, and one containing voluntary contributions which allows in-service distributions), can she remove the TOTAL required RMD for her retirement year from the latter (“voluntary”) account or does she have to take the claculated amount from each 403(b) account separately?
Permalink Submitted by Alan - IRA critic on Mon, 2023-05-15 17:23
403b RMDs can be aggregated in the same manner as IRA RMDs regardless of whether the 403b accounts are with the same employer. That said, if she meets plan requirements for the “still working exception”, she should not be subject to RMDs until they deem her as retired. She might also check with the plan to determine how any post tax basis will be applied depending on the account funding a distribution, RMD or not.