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View Full Version : How do I figure how much to take from my 457 retirement account?


All2HimIO
Feb 3, 2010, 08:39 PM
I turned 70 1/2 in December 2009, I need to know how to figure how much I need to withdrawal from my 457 account as well as small CDs?

ebaines
Feb 4, 2010, 06:57 AM
The 457 plan administartor and your IRA account custodian should be able to tell you how much you have to take, so give them a call. I assume the CDs that you're referring to are in a traditional IRA account, and not a Roth IRA - right? You can find a table of minimum withdrawals here: IRA minimum distributions table (http://www.bankrate.com/finance/money-guides/ira-minimum-distributions-table.aspx) From this it seems you have to take out a minimum of 1/26.5 of the account value as of Dec 31 2009.