The Essentials of Retirement Plan RMDs

on Dec 17, 2023 04:16:AM

A great feature of traditional Individual Retirement Accounts (IRAs) and employer-sponsored retirement plans like 401(k)s is that their money can grow tax-deferred for years. But eventually, the tax piper must be paid. That’s when Required Minimum Distributions, or RMDs, kick in and federal — plus sometimes state — ordinary income taxes will be due.RMDs are […]