Life Expectancy Factor Table For Rmd. As an example, let's say your 401(k) balance was. Determine the individual retirement account balance as of december 31 of the prior year.
required minimum distribution (rmd) = retirement account balance ÷ life expectancy factor. Say your ira was worth $500,000 at the end of 2022, and you were taking your first rmd at age 73 this. Determine henry's life expectancy factor.
Rmd Table 2019 Bios Pics
Actually, secure (1.0) updated the minimum age to 72, but did not contain any language about updating the life expectancy. uniform lifetime table iii: use this table for calculating lifetime rmds from iras and retirement plan accounts. Brian is a retired 401 (k) participant who turned 72 on march 31.
