5 year reset
L1: 5 year reseti am past my 5 yer reset period after starting payouts. i took max payout at that time. if i change to min payout does it work off the past/orginal interset rate or is my new min payout tied to current rates/
2016-09-15 19:50, By: publixretireguy, IP: [220.127.116.11]
L2: 5 year resetNot sure what you mean by reset period. Your plan must run the longer of 5 years or to age 59.5. If 5 years was longer and you have reached that date, your plan is over and you can distribute anything you wish going forward.
If your plan is still active, you can make a one time switch to the RMD method anytime, but you should make that effective on Jan 1, not mid year. Under the RMD method interest rates are immaterial, you use an updated account balance (usually as of 12/31), updated age at the end of the plan year, and select an RMD table to use (Uniform, single life, or joint and last survivor with your beneficiary). Then you must repeat that calculation every year at the same time until your plan ends. The RMD switch usually reduces your payout considerably, rough average perhaps around 40%.
If you are thinking about IRS approved recalculated plans that DO use an updated interest rate, you must elect that method when your plan initially starts, not after you are already in an active plan.2016-09-15 22:38, By: Alan S, IP: [18.104.22.168]