72t started

You are here:
< Back

L1: 72t startedI used 2.40 for my rate on April start of my plan. It gave me what I wanted and did not have to move any money rather than use reverse calculator. This was simple for me but after reading Tom post wanted to make sure Im okay?2011-05-13 13:21, By: RS, IP: []
L2: 72t startedRS, Since the max Fed Medterm rate posted by GOVT for March 2011, that you could use for an April start (first payment) was 2.94%, if you used only 2.4%, you have no problems, as far as the rate is concerned. It just can’t exceed that 2.98% in this case of an April start. I assume you used the SEPP calculator on this site to compute you annual payment. I can’t comment on your other details, since they were omitted. Did you use your age that you will attain by 12/31/2011 in the calcs? That is an example of another issue that you could have done incorrectly. What was the date of the balance that you used from your IRA in the calcs?BTW- Why did you use 2.40%, or did you use that as an investment rate.. rather than in the “reasonable int rate” where you plug in the max midterm rate, or something lower. That can also be confusing.
Tom’s post had a lot of comments, so I am not sure what is worrying you.
KEN2011-05-13 13:34, By: Ken, IP: []