What are my required minimum distributions (RMD)?

Avoid penalty by withdrawing the right amount from your retirement plans.

If you're age 70-1/2 or older, you may be required to make taxable withdrawals from your retirement plans. These are calculated each year, based on your age, plan balance, marital status and spouse's age. If you don't meet the annual minimum distribution, you may be subject to a 50% penalty on your underpayment, plus ordinary income tax as the funds are withdrawn.