February 23, 2009
15 % tax that used to apply to excess distributions, which are defined as the aggregate amount of the retirement distributions with respect to any individual during any calendar year to the extent that such amount exceeds the greater of —
(A) $150,000, or
(B) $112,500
IRC § 4980A
Applicable RMD Age The first year for which an IRA owner or plan participant must begin to take RMDs from their tax-deferred retirement account. RMDs
Definition A SIMPLE 401(k) plan is a 401(k) plan established by a small business for it’s employees. Earnings accrue on a tax-deferred basis and distributions
Definition The minimum amount that must be withdrawn from retirement accounts, including qualified plans, 403(b) accounts, 457(b) accounts or IRAs, each year. For retirement account
Definition The date by which a retirement account owner must begin distributing required minimum distribution (RMD) amounts from a Traditional, SEP or SIMPLE IRA, a
