Sentences with «traditional individual retirement accounts»
The Internal Revenue Service mandates distributions be taken from tax - deferred accounts, such as traditional individual retirement accounts (IRAs), by December 31 of each calendar year for those subject to the required minimum distribution (RMD) rules. (aaii.com)
Required minimum distributions, often referred to as RMDs or minimum required distributions, are withdrawals that the federal government requires you to take annually from traditional individual retirement accounts (IRAs) and employer - sponsored retirement plans after you reach age 70 1/2 (or, in some cases, after you retire). (pnc.com)
Individual retirement contributions: You can deduct Roth and traditional individual retirement account contributions, depending on your income, filing status and whether you have a retirement plan at work. (policygenius.com)