Required Minimum Distribution rules have changed effective January 1, 2020

Required Minimum Distribution rules have changed effective January 1, 2020

The IRS has changed the Required Minimum Distribution (RMD) tax requirements from 70 ½ to 72 years of age.

• If you turned age 70½ on or before December 31, 2019, your RMD must be made no later than April 1 of the year following the termination from your PERA plan.
• If you turned 70 1/2 on or after January 1, 2020, your RMD must be made the later of:

– April 1st of the year following the termination from your PERA plan OR

– April 1st of the year following the calendar year in which you turn 72

Required Minimum Distribution (RMD)