RMD’s at retirement
My client will be 71 when he retires from the federal government on 1/3/2008. He will begin taking RMD’s on his Thrift Savings Plan in 2008. He turns 72 on March 31, 2008.
Does he take his first distribution at retirement at his current age (71) or the age he will turn in 2008 (72)?
Thanks –
Ann
Permalink Submitted by [email protected] on Wed, 2007-08-22 20:17
Age 72. It is the age he is on 12.31 of the distribution year, the first one of which would be 2008. Even if he waited until 2009 (prior to his RBD of 4.1.2009), he would still use 72. Then the one for 2009 would use age 73, due prior to 12.31.2009.