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If you plan to hold off on withdrawing from your 401(k) even after you retire, be aware of the required minimum distributions — or RMDs — for a traditional 401(k). RMDs are mandatory ...
Roth 401(k) plans and Roth 403(b) plans are no longer subject to RMD rules Designated Roth accounts in 401(k) and 403(b) plans were subject to RMD rules in 2023, but that changed in 2024 due to ...
The Roth 401(k) program was originally set up to sunset after 2010, along with the rest of EGTRRA 2001. The Pension Protection Act of 2006 extended it. Until the end of 2022, owners of Roth 401(k) accounts (designated Roth accounts) must begin distributions at age 72, as with IRAs and other retirement plans. (Pub 4530)
However, while this rule goes into effect this year, it applies to 2024 funds, meaning you still need to take the RMD if you had funds in a Roth 401(k) at the end of 2023.
(Traditional) 401(k) Roth 401(k) Traditional IRA Roth IRA; Distributions Distributions can begin at age 59½ or if owner becomes disabled. Distributions can begin at age 59½ and the account has been open for at least 5 years, or if owner becomes disabled, with some exceptions. Distributions can begin at age 59½ or if owner becomes disabled.
You might want to take a second look at the Roth 401(k) in 2024. ... 1 New Required Minimum Distribution (RMD) Rule That Makes Roth 401(k)s More Attractive in 2024. Charlene Rhinehart, The Motley ...
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