Revised Life expectancy Tables??

[Guest David Hammond CISP]

Hi Everyone,

Has anyone seen anything substantiated regarding newly revised IRS life expectancy tables for use in RMD calc's?

A rumor started in these parts says that they have been released but I think not.

The usual sources reflected nothing as of this morning.

Hope I didn't miss something.

Regards,

David Hammond

Sentinel Retirement Services

Wakefield, Massachusetts

[Michael Devault]

I was looking over a version of the House bill passed yesterday which is intended to raise IRA limits. Among other, lesser publicized, provisions of the bill is one that will update life expectancy to reflect more recent mortality for purposes of RMDs. It's not law yet... it still has to get through the Senate and get the President's signature.

For reference, the bill is H.R.4843

[Guest arturr1]

Hello

What is the IRS's life expectancy for men??

My father was born Sept 21 1929 and we're try to figure out what kind of money he need's to withdraw.

Any help is greatly appreciated.

Art Ru

[Michael Devault]

The IRS uses unisex tables, so the life expectancy for men and women are the same for tax purposes.

At your father's current age of 71, the IRS' current life expectancy tables show an expectation of 15.3 years.

You might check with the product vendor. They may be able to help with the calculation of required minimum distributions.

Good luck!

[Guest arturr1]

Thanks Michael for the timely response.

It's nice to know the goverment thinks he'll be around till he's 86, one can only hope!

Art Ru