457 Plan
I have a client who will retire when he is 72 next year. He has a 457 plan. It will stay at his current employer. If we drew from the 457 plan first and took enough to satisfy his RMD for all accounts would we be able to do that? I recall that if you had two or more employer accounts you would have to take a RMD from all of them. I know if you have multiple IRA’s you take from one as long as it is enough to satisfy the RMD. Just not sure on this scenario. Please advise.
Permalink Submitted by David Mertz on Wed, 2021-03-10 01:02
Distributions from this 457(b) plan only satisfy the RMD for this 457(b) plan. They do not satisfy the RMDs for any other retirement accounts.