Required Minimum Distributions (RMDs)

A required minimum distribution, or RMD, is the amount of money that must be withdrawn annually from an employer-sponsored retirement plan, Traditional IRA, SEP IRA or SIMPLE IRA by persons of retirement age.  The current age at which you must begin withdrawing RMDs is 73.

The amount you are required to take varies every year based upon the value of your retirement account at the previous year-end and your life expectancy factor, as determined by the IRS. Failure to withdraw the required amount may result in tax penalties. 

You may take your RMD as a one-time lump sum withdrawal or set-up a series of withdrawals throughout the year. You have some flexibility in the manner you withdraw the funds. And we can help you review them. Give us a call at 308-384-9754 to discuss your options in more detail.