Is it Time to Take Your Required Minimum Distribution (RMD)?

Did you turn 70½ this year? It might be time for your RMD!

You must begin receiving RMDs from your retirement plans by April 1 of the year following the later of the year in which you reach age 70½ or the year in which you retire or terminate. If an RMD is required and not taken, the IRS may impose a penalty equal to 50% of the distribution that you should have taken. Although Wespath automatically calculates and distributes RMDs to our plan participants, you are responsible for satisfying IRS rules. Learn more at or contact EY with questions.

From the October 2018 issue of Hark!

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