Question: Blake, age 7 3 , is required to take substantial required minimum distributions ( RMDs ) from his qualified retirement plan. He has no current

Blake, age 73, is required to take substantial required minimum distributions (RMDs) from his qualified retirement plan. He has no current need for the income and wants to decrease the amount of the distributions without incurring a penalty. Blake is not interested in a lump-sum distribution from the plan at this time. Which of the following statements regarding Blake's options is CORRECT?
Blake may take a distribution and roll it into his IRA.
Blake cannot roll over retirement plan proceeds to a traditional IRA after age 59(1)/(2).

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!