What is a Required Minimum Distribution (RMD)?

If you have an employer-sponsored retirement plan (including 401(k) and 403(b) plans) or a Traditional IRA, the IRS will require you to take a RMD. The SECURE Act of 2019 changed the requirement to the year you turn 72 to begin taking a Required Minimum Distribution (RMD) from your employer-sponsored plan. 

These withdrawals are termed "required minimum distributions," or "RMDs." For more information about RMDs, click here.

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