IMPORTANT: The Coronavirus Aid, Relief, and Economic Security Act (CARES) Act of 2020 contains provisions providing a temporary waiver of RMDs for IRAs, 401(k)s and other employee-sponsored retirements plans for 2020.
SECURE Act Raises Age for RMDs from 70½ to 72: The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 raised the age when you must begin taking RMDs from a traditional 401(k) or IRA from 70½ to 72. If you turned 70½ years old on or after January 1, 2020, this law’s changes apply to you and you do not have to begin taking RMDs until April 1 of the year following the year that you turn age 72. If you turned 70½ years old in 2019, the law's changes do not apply to you.
Note: If your spouse is more than ten years younger than you, please review IRS Publication 590-B to calculate your required minimum distribution.
THIS RMD CALCULATOR HAS NOT YET BEEN UPDATED TO REFLECT THESE CHANGES.
Additional Information on RMDs:
- IRS RMD FAQ Page
- IRS RMD Comparison Chart (IRAs vs Defined Contribution Plans (e.g., 401(k), profit sharing, and 403(b) plans))
- IRS Publication 575 (Pension and Annuity Income) (discusses distributions from defined contribution plans)
- IRS Publication 590 (Distributions from IRAs)
Savings Goal Calculator
Find out how much you need to save each month to reach a specific amount.
Compound Interest Calculator
See how your invested money can grow over time through the power of compound interest., or use the savings goal calculator to find out how much you need to save to reach a specific amount.