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The IRS has just released their proposed new life expectancy tables for determination of Required Minimum Distributions, or RMDs. The proposal is being put out for public comment and is set to be implemented beginning 2021. All three tables: Table I, Single Life Table, Table II, the Uniform Table and Table III, The Joint and Last Survivor for surviving spouse who are sole beneficiaries and at least 10 years younger than the decedent IRA owner.

So for the most commonly used Uniform Table, the life expectancy for those age 70 at the end of their first RMD year, the divisor will increase from 27.4 to 29.1. So if you're first RMD year is 2021 and you're 70 at the end of that year and your TIRA balance is $100,000 at the end of 2020, your RMD would be reduced from $3,649.64 to $3,436.43, or a reduction of $213.21.

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