Ask Experts Questions for FREE Help !
Ask
    All2HimIO's Avatar
    All2HimIO Posts: 4, Reputation: 1
    New Member
    		  
    #1

    Feb 3, 2010, 08:39 PM
    How do I figure how much to take from my 457 retirement account?
    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's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #2

    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 From this it seems you have to take out a minimum of 1/26.5 of the account value as of Dec 31 2009.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Closing a retirement account [ 2 Answers ]

My wife has gone on workers comp. I want to close my retirement account (5K) and we are being told I can't. I have to be 59 & 1/2 or quit to do that. Is this correct?

Non qualified distribution of retirement account [ 2 Answers ]

I live in Georgia and might need to take an early withdrawal on my retirement account. Am I correct when I figure that it will be 32% since I will pay a mandatory 20% federal income tax withholding plus 10% early withdrawal fee plus 2% Georgia state tax withholding? Can this be right?! Thanks,...

Retirement Account [ 5 Answers ]

Hi, Before April 15th, I want to invest into an retirement account. I don't know if I should open a Roth IRA account or the new proposed Lifetime Savings Account(LSA) by president Bush. Can you please list the pros and cons of both accounts. Would I be able to withdraw from the...

View more questions Search