457(b) Top Hat Plan Dist Taxation

[DTH]

Plan says that benefits shall commence and be made in accordance with the RMD rules and that the Participant's entire interest will be distributed, or begin to be distributed, to the Participant no later than the Participant's "required beginning date". The 457(b) plan allows participants who have severed employment 60 days after severance to elect when to begin distributions and in what form. The plan document says if the participant does not make an election the benefit will commence on the participant's required beginning date (RBD).

The plan also says that benefits shall commence and be made in accordance with the RMD rules and that the participant's entire interest will be distributed, or begin to be distributed, to the participant no later than their RBD.

Does this mean the participant's entire account balance is taxable in the RBD year or that the participant will just be taxed on the RMD calculated amount each year?