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kogutr

Minimum Distribution Requirement For 457's And 403's

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1. Is the table used for Minimum Distribution Requirement calculations the same for 403(b), 457(b), and other plans?

2. Where is this table published other than buried in obscure locations on the IRS site?

3. If you have both a 403(b) and a 457(b), do the MDR withdrawals have to be proportional in each plan in any given year, or is it OK if the combined sum of the withdrawals meets the combined MDR? I.e., could you take all withdrawals from the 403 one year, and from the 457 the next (or other variations)? I believe this is true for IRAs, but haven't been able to find confirmation for these other plans.

Thanks,

Rich Kogut

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Rich,

 

1. Yes, it is.

 

2. The easiest way, in my opinion, to find the tables is to go to the IRS website and download Publication 590. The tables are in that publication beginning on page 85.

 

3. I know for a fact that distributions from IRAs do NOT satisfy the distribution requirements from a 403(b) and vice-versa. Required minimum distributions must be calculated separately on IRAs and taken from IRAs. Similarly, minimum distribution requirements on 403(b)s must be calculated separately and taken from 403(b) accounts. I believe that the same is true for 457 plans, in that distributions from other plans cannot be used to satisfy distribution requirements from a 457 plan.

 

I hope this helps.

 

Mike

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