age factor in calculation and sepp mandatory payme

L1: age factor in calculation and sepp mandatory paymeDear 72t on the Net,
I will be 52 years old in September 2005. If I begin my SEPP in April 2005, do I use age 52 or actual age 51 at the timein the SEPP 72T Calculator?
Also, in April 2013 I will be older than 59 1/2, therefore am I correct that no mandatory annualdistribution will berequired in that year, thereby making the last mandatory distributiondue April 2012.
Thanks,
Bob2004-11-29 19:58, By: cartow, IP: [151.199.177.19]

L2: age factor in calculation and sepp mandatory paymeHello Bob:
1. Always use your highest attained age within a year; therefore use age 52 for 2005.
2. In the Spring of 2013 you will have two choices:
A. No distribution.
B. An annual distribution.
TheBadger
wjstecker@wispertel.net
2004-11-29 20:15, By: TheBadger, IP: [66.250.23.22]

L2: age factor in calculation and sepp mandatory paymeThequestion of ‘what age do I use’ comes up a lot in 72(t) as well as Required Minimum Distribution (RMD) discussions because of the term ‘Attained Age.’ If you will answer a simple question this becomes clear. The question is, ‘How old will you be on December 31, XXXX,’ where ‘XXXX’ is the year of interest. It doesn’t matter how old you are when you start a SEPP or take your RMD since your age on the last day of the year is the controlling factor.
I probably ought to copy this to a Word file and paste into future posts since this is a recurring question. The question will come up again about mid March as we approach the Required Beginnign Date (RBD) for the next batch of folks turning 70 1/2.
Jim2004-12-01 08:32, By: Jim, IP: [68.1.157.228]