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Is the participant of a 401k required to take money out of her account during her lifetime?
Wiki User
∙ 14y ago
Yes. When you obtain the age of 70 1/2 years old, the IRS requires that you begin taking portions of your account balance depending on life expectancy. (This is referred to as your RMD or Required Minimum Distribution) Your plan's record keeper will typically send you notifications in the mail to let you know what you're required to take.
Wiki User
∙ 14y ago
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