2002-62 @ 56 months

L1: 2002-62 @ 56 monthsIf I”ve been on SEPP since 04/98 may I lower my monthly income as shown in Cobra”s discussion of 02/07/2003 method #2? I”ve taken my Jan distribution would like to subtract it from 12/02 year end value and begin taking the 11/12ths remaining monthly amount starting this month(Feb).
Here”s the real question. If I reduce my monthly distribution under 2002-62 for the next few months, and whenI”m finished with my 60 months obligation, can I then stop or do anything I want with my account since I”m now over 59 1/2 and have been on SEPP for 60 months? Or must I continue to take out the newly calculated amount monthly until it equals the amount for the entire 2003 year under 2002-62?
Once again thanx so much for your research and sharing.
Gary C.2003-02-12 11:08, By: Gary, IP: [127.0.0.1]

L2: 2002-62 @ 56 monthsAny change MUST be to the Minimum Distribution method – no other changes are allowed. For the first time when payments can be modified, check out the “Last Payment Date” calculator in the left menu.
2003-02-12 15:26, By: Gfw, IP: [127.0.0.1]

L2: 2002-62 @ 56 monthsBadger,
The original question is a RMD reduction. Question again is if we reduce now in Feb under 2002-62 canI stop or alter distributions in May when I”m already over 59 1/2 and I”ve satisfied the 60 months.
Paying too much in taxes and want to take as little out of IRA as possible.
Thanx2003-02-13 20:30, By: Gary, IP: [127.0.0.1]

L2: 2002-62 @ 56 monthsI moved your message under the original post so the thread remains together.
Again I suggest you you the “Last Payment Date” calculator. When the payment stream can be altered is a function of two items: 1) Your Date of Birth; and 2) The date the first payment was made from the plan. It”s not necessarily a question of when the 60 months is up, it”s a question of when can you alter the payment structure.See the FAQ Sectionand search forArnold v. Comm2003-02-14 04:32, By: Gfw, IP: [127.0.0.1]