Required Minimum Distributions
Continuing to participate in KDC through retirement may be a good idea, especially because it can help you potentially grow your account to help meet your income needs in the later years of retirement.
However, the IRS generally requires retirement plan participants to begin taking annual withdrawals after age 70½. If you don’t take timely required minimum distributions (RMD), you could be subject 50-percent excise tax on the amount that should have been withdrawn.1
KDC requires participants to begin taking RMDs no later than April 1 of the year following the participant’s attainment of age 70½.2 But we make it easy for you. As another key benefit of KDC participation, we’ll calculate and send your RMDs well before the deadline each year.
Get the help you need
Please contact us if you have questions about RMDs from your KDC account.
1 Internal Revenue Code Section 4974
2Section IV, KDC Plan Document
Investing involves market risk, including possible loss of the money invested.