abanky Posted December 7, 2007 Posted December 7, 2007 someone just told me that for db plans where the spouse's age is less then 10 years different, I can't use the uniform table... Is that true?
Mike Preston Posted December 7, 2007 Posted December 7, 2007 Kind of a strange question. DB plans don't use the tables at all, unless they are in the process of paying out the participant's complete benefit via a lump sum. Care to elaborate?
abanky Posted December 7, 2007 Author Posted December 7, 2007 I've been told that to calculate the RMD for a DB plan, you take the lump sum value at the beginning of the calendar year and divide it by the Single Life Uniform RMD table? Is this totally wrong?
david rigby Posted December 7, 2007 Posted December 7, 2007 Is this a cash balance plan? (Not contradicting Mike, just asking.) I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
abanky Posted December 7, 2007 Author Posted December 7, 2007 thank you guys... I just read the regs and realize what we have to do.
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