In this episode, Dan Sipe and Ed Zurndorfer talk about how the RMDs for IRAs, 401ks, TSPs, and more will now have lower required payments.
FedLife Podcast 67: Saving Money With The Updated IRS Life Expectancy Tables
The IRS has updated their life expectancy table and this could be a big deal for you.
It may not apply to all feds right now, but if you are coming up to your retirement date, the updated tax laws could benefit you greatly.
In this episode, Dan Sipe and Ed Zurndorfer talk about how the RMDs for IRAs, 401ks, TSPs, and more will now have lower required payments.
Dan and Ed discuss:
- The new life expectancy table from the IRS and how you can benefit
- How long you have to wait until you can take your first RMD
- Why your RMD is lower due to the new life expectancy
- The amount of time you have to withdraw money from an IRA if you are the beneficiary
- How much you can be fined for excessive contributions into an IRA
- Which Feds will benefit from this price reduction
- And more!
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