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I believe that the RMD for the (traditional) IRA would still apply, but does it also apply for the 401(k)? (Or is that dependent upon the local workplace rules?)

Why does the IRS say "generally"? I had always assumed it was a fixed rule (for the types of account that they mention).

Because there are always exceptions.

For IRAs, you can actually delay the first withdrawal as late as April 1 of the calendar year following the year you turn 70 1/2, rather than the year that you do turn 70 1/2. Of course, that means you will end up taking 2 withdrawals during that year, because you still have to take the distribution for the year you turn 71 1/2 by Dec 31 of that same year. Of course, for someone who is still has significant compensation from work in the year that they turn 70 1/2, but will have significantly lower compensation from work in the year they turn 71 1/2, that might be a good way to minimize taxes.

For 401(k)s, the required distributions are dependent on rules for the plan. The IRS allows plans to let employees avoid RMDs while they are still employed, but the plan rules have to be set up to allow it.

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