October 11th, 2022
The Changing Dynamics of Required Minimum Distributions
After working with your clients to accumulate money for retirement, at a certain point you must switch to helping them withdraw money. Some retirement arrangements require clients to start withdrawing money. The money accumulated in qualified (pre-tax) retirement savings plans may be subject to required minimum distributions – RMDs.
The rules around those plans are not all the same. The required distributions, beginning date, and exceptions vary. Financial professionals, along with tax professionals, may be able to help clients understand, prepare for, and comply with RMD requirements – as those rules have recently changed.
