You’re probably familiar with the term “required minimum distributions” (or RMDs for short). They’re the systematic withdrawals that the IRS makes you take out of an IRA after you turn 70 1/2. But what about for 401k and other qualified retirement plans? What are the 401k RMD rules?
While they largely resemble IRA RMD rules, 401k plans have a few subtle but important differences. And since many people these days are staying at their jobs beyond 70 1/2, it’s a situation that more and more people find themselves in.
To help you navigate the waters, here’s a comprehensive guide to 401k RMD rules, which also applies to 403b, 457, and other qualified plans.