403(b) Distributions to satisfy an RMD
Can a distribution be taken out of a 403(b) in order to satisfy a person’s RMD (as opposed to taking from their IRA account)? Please note this person is still employed by the company that provides the 403(b).
Can a distribution be taken out of a 403(b) in order to satisfy a person’s RMD (as opposed to taking from their IRA account)? Please note this person is still employed by the company that provides the 403(b).
Permalink Submitted by Alan - IRA critic on Wed, 2015-09-02 19:36
No. 403b RMDs can be aggregated with other 403b account RMDs and IRA RMDs can be aggregated with other IRA account RMDs, but a 403b RMD and an IRA RMD cannot be aggregated with each other. In other words, the IRA RMD must be satisfied with a distribution from that IRA or another owned IRA account, not from the 403b.
Permalink Submitted by Kevin Vasilik on Wed, 2015-09-02 19:39
Thank you!