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Am I required to take Distributions from my Roth 401(k) during my lifetime?

The required distribution rules that force you to begin taking money out of your retirement plans and Traditional IRAs during your lifetime also apply to Roth 401(k) Plans. The required distribution rules also force your beneficiaries to take distributions from the account after your death.

Note: the rules for a Roth 401(k) Plan are different from those for a Roth IRA. If you have a Roth 401(k) plan, you must begin taking distributions from the account when you reach age 70 and 1/2, or after you retire, if that is later.

For more information about Roth 401(k) plans, please contact a tax expert @ 800.472.0646 today!

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Posted in IRA Financial Group