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UPS Driver killed in Colorado Springs
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 4503233" data-attributes="member: 12570"><p>Pensions are considered to be the same as most other retirement plans and you are required to start taking minimum distributions (RMD's) when you turn 70 1/2. This has recently been changed to 72. RMD's are calculated by taking your balance as of 12/31 and dividing it by the number of years that you are expected to live. That number is then divided by 12 and that is how much you are required to take per month. Failure to do so results in a 50% fine of the RMD amount.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 4503233, member: 12570"] Pensions are considered to be the same as most other retirement plans and you are required to start taking minimum distributions (RMD's) when you turn 70 1/2. This has recently been changed to 72. RMD's are calculated by taking your balance as of 12/31 and dividing it by the number of years that you are expected to live. That number is then divided by 12 and that is how much you are required to take per month. Failure to do so results in a 50% fine of the RMD amount. [/QUOTE]
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UPS Driver killed in Colorado Springs
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