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Required Minimum Distribution (RMD)


The Internal Revenue Code (IRC) mandates a required minimum distribution (RMD) from your qualified retirement plan be paid by April 1 of the year that follows the later of:

  • The calendar year in which you reach age 70 ½, or
  • The calendar year in which you retire from employment with the employer maintaining the plan.


If an RMD is not taken by that date, the IRS may impose an excise tax equal to 50 percent of the amount that should have been taken but was not.


For more information, visit the IRS website.


NOTE: If you are actively working in a PERA-covered job, or drawing a monthly retirement benefit, you are NOT required to take an RMD, regardless of age.