Still-Working Exception | Ed Slott and Company, LLC

Still-Working Exception

Still-Working Exception and Indirect Transfers: Today’s Q&A Mailbag

This week's Slott Report Mailbag answers readers' questions about the still-working exception and indirect transfers.

10 Things to Know About the Still-Working Exception

Are you approaching retirement age and not looking forward to being forced to take unwanted required minimum distributions (RMDs) from your retirement account? You may be looking for a way to delay those distributions. You may have heard about the “still-working” exception, which can allow RMDs to be put off. Will this exception help you? Here are 10 things you need to know.

Are You Over 70.5 Years Old and Still Working? Take Advantage of These Benefits: This Week’s Q&A

This week's Slott Report Mailbag looks into 403(b) plans, RMDs, still-working exceptions, and trusts. 

RMDs When You are No Longer “Still Working”

Required minimum distributions (RMDs) are fact of life for most retirement account owners once they reach age 70 ½. However, if you fit the definition of “still-working” you catch break and can delay your RMDs. What happens when you finally decide to throw in the towel and begin your well-earned retirement? Well, RMDs must start and that’s when things can get a little complicated. You will want to proceed with caution because a missed RMD is a costly mistake. There is a 50% penalty on an RMD that is not taken. That is not the way you want to start your golden years!

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