What to do with RMDs


Q. My wife and I are both federal employees under FERS, nearing seventy and about to retire. We have a question about how to make the required minimum distributions (RMDs). We each have a TSP account and each also have a rollover IRA from previous employment. We file taxes jointly.

Must we take four separate RMDs from each of the four pre-tax accounts? Or, can we total up the combined amount of the four RMDs, and make one large withdrawal from one of the four accounts?

A. You will need take the RMD from each of the accounts. You might consider moving the IRA account assets into the TSP to simplify things.


About Author

Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

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