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Compliance March 7, 2002
RMD Tables Get New "Life"
July 3, 2002 (PLANSPONSOR.com) - The Internal
Revenue Service (IRS) has issued new life expectancy tables
to use in determining required minimum
distributions.
Reported by Fred Schneyer
Publication 590 SUPP supplements Publication 590 on
IRAs, the IRS said. The tables were part of the final
regulations (T.D. 8987) on required distributions from
retirement plans issued in April.
For 2002, taxpayers have the option of using the new life
expectancy tables or the tables in existing Publication
590, officials said.
The new tables generally provide for smaller annual distributions, so participants may keep more funds in their tax-deferred plans, according to the release.
Get a copy of Publication 590 SUPP at the IRS Web site
at
http://www.irs.gov/pub/irs-pdf/p590supp.pdf