Dougsbpc Posted January 17 Posted January 17 Suppose you have a one participant DB where the participant is 77 and has been taking RMDs all along. His first RMD was taken on March 15 a number of years ago and since his RMD is calculated as an annual annuity payment, every March 15 he has taken his RMD. As of December 31 2024 the plan terminated. The plan has obtained his benefit elections and he wants all assets distributed by January 31, 2025. Actually, not a problem as we have everything ready to go. Question: is it acceptable that his RMD (usually taken on March 15, which would be March 15, 2025) will now be taken on January 31, 2025? Thanks!
Lou S. Posted January 21 Posted January 21 Yes that is acceptable. If they have terminated and he is now electing a rollover, you can also use the DC method that will typically give a lower RMD.
CuseFan Posted January 22 Posted January 22 Not only acceptable, required. Kenneth M. Prell, CEBS, ERPA Vice President, BPAS Actuarial & Pension Services kprell@bpas.com
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