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Author: bontedwaas Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19483  
Subject: New IRA distribution rules Date: 1/30/2001 11:32 PM
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Hi,
Do the new Ira distribution rules also apply to a self employed Keogh retirement account?
If so, where do I obtain the new table that gives the new division factor?
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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 6150 of 19483
Subject: Re: New IRA distribution rules Date: 1/31/2001 8:51 AM
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Greetings, Bontedwaas, and welcome. You asked:

Do the new Ira distribution rules also apply to a self employed Keogh retirement account?
If so, where do I obtain the new table that gives the new division factor?


A Keogh is a qualified retirement plan, not an IRA. The rules might apply to your plan, but that's totally contingent on what the documents say about minimum required distributions. Plans are not obligated to follow the new rules, and could force a payout. There's also some question as to whether plan documents must be amended to allow use of the new rules this year.

Check with your plan administrator/custodian to see if the new rules will apply. If they do, the table you need can be found at http://www.irs.gov/forms_pubs/graphics/15160x16.gif. It's nothing more than the old Minimum Distribution Incidental Benefit table found in Appendix E of IRS Publication 590.

Regards..Pixy

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Author: bontedwaas Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 6160 of 19483
Subject: Re: New IRA distribution rules Date: 2/1/2001 1:20 AM
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TMFPixy thanks for your reply.
But the table you suggest can be used only "if you have a beneficiary other than your spouse who is 10 or more years younger than you".
In my case my wife is the beneficiary and she is not more than 10 years younger.
So I have been using TABLE II (Joint Life and Last Survivor Expectancy)
It gives the age of the account holder on a vertical line at the left and the age of the spouse horizontally at the top. You find the intersection for the respective ages and that gives you the denominator. Regards.

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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 6166 of 19483
Subject: Re: New IRA distribution rules Date: 2/1/2001 9:04 AM
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Bontedwaas writes:

But the table you suggest can be used only "if you have a beneficiary other than your spouse who is 10 or more years younger than you".
In my case my wife is the beneficiary and she is not more than 10 years younger.
So I have been using TABLE II (Joint Life and Last Survivor Expectancy)
It gives the age of the account holder on a vertical line at the left and the age of the spouse horizontally at the top. You find the intersection for the respective ages and that gives you the denominator.


Hello out there! Anyone listening??

I have said more than once that the new uniform table IS THE SAME AS the old MDIB table. Yes, as it exists in the current, yet to be revised, IRS Pub 590 it contains the footnote of which you speak. IGNORE THAT FOOTNOTE under the new rules. The factors are the same. It will take the IRS months to reissue Pub 590, but when it does, that table will be renamed and the footnote will disappear. Therefore, you may use it in good health.

Regards..Pixy

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Author: MERWOOD Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 6408 of 19483
Subject: Re: New IRA distribution rules Date: 3/21/2001 8:21 PM
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I also have always used Table II (Joint Life and Last Survivor Expectancy) to figure my required minimum distribution. Where do I find a new Table II?
Couldn't see it on the IRS link, but maybe I just skipped over it when my eyes started glazing.
Thanks

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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 6410 of 19483
Subject: Re: New IRA distribution rules Date: 3/22/2001 6:21 AM
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Greetings, Merwood, and welcome. You asked:

I also have always used Table II (Joint Life and Last Survivor Expectancy) to figure my required minimum distribution. Where do I find a new Table II?
Couldn't see it on the IRS link, but maybe I just skipped over it when my eyes started glazing.


If you are talking about the new uniform table that you may now use for MRD for your 2001 withdrawal, that is the same as the old MDIB table in Appendix E of IRS Publication 590. The online version is at http://www.irs.gov/forms_pubs/graphics/15160x16.gif.

It will take until next year until the IRS reissues IRS Pub 590 to rename that table. In the interim, be assured for your 2001 MRD you may use the MDIB table OR Table II, whichever works best for you in your situation.

Regards..Pixy


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