Announcements

Most plan participants must begin taking required minimum distributions (RMDs) for the year they reach age 73 or leave the company, whichever is later.*

Plan sponsors are responsible for ensuring that RMDs are taken every year. Failure to make required distributions is a violation of plan rules and could result in penalties and plan disqualification.

To see a list of participants who will reach, or have already reached, age 73 this year, access the Advanced Report tab in the Reports & Analysis section of the website. You can generate a custom participant report by following these steps:

• In the Census section, check the box for “Search” and “Show” next to “Birth Date.” In the drop-down menu, select “Less Than” and then enter “01/01/1952.”
• In the Financial section, check the box for “Search” next to “Portfolio Balance.” In the drop-down menu, select “Greater Than” and then enter “0.00.”
• Click the “Run Report” button.

*If the participant owns more than 5% of the business sponsoring the plan, RMDs must begin once the participant is age 73, regardless of whether he or she is retired.