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Thursday, April 23, 2026 - Broadridge Content

Required minimum distributions, often referred to as RMDs or minimum required distributions, are amounts that the federal government requires you to withdraw annually from traditional IRAs and work-based retirement plans after you reach age 73 (75 for those who reach age 73 after December 31, 2032; prior to December 31, 2022, the age was either 72 or 70½, depending on your year of birth). You can always withdraw more than the minimum amount from your IRA or plan in any year, but if you withdraw less than the required minimum, you will be subject to a federal penalty.

Thursday, April 23, 2026 - Broadridge Content

A traditional individual retirement account (IRA) is a personal savings plan that offers certain tax benefits to encourage retirement savings. Contributions to traditional IRAs are either tax deductible (the money goes into the IRA pre-tax) or nondeductible (you pay income tax on the money that goes into the IRA). Regardless of whether your contributions are tax deductible, amounts contributed to a traditional IRA grow tax deferred inside the IRA.