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Required Minimum Distributions

- 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.

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