richparry
Sep 17, 2007, 11:06 AM
Where do I find and what's the formula that determines how much I have to withdraw FROM MY 401k now that I'm 70 1/2 years old?
Rich Parry
ScottGem
Sep 17, 2007, 11:22 AM
You need to discuss this with the plan admins. The formula is based on YOUR individual life expectancy.
AtlantaTaxExpert
Sep 17, 2007, 01:00 PM
Actually, it can also be determined by your beneficiary's life expectancy.
Additionally, you must factor in other retirement plans (like other 401Ks and traditional IRAs) that have a mandated withdrawal at 70.5 years of age.