interest rate for either of the previous two month

L1: interest rate for either of the previous two monthCould someone please clarify for me: the interest rate that can be used must not be more than 120% of the federal mid-term rate for “either of the previous two months”. Do I get to pick which month? That I doubt. Is it not more than 120% of the midterm for the lower of the previous two months?I thank you all very much who answer my questions with such kindness. I don”t alway take the time to acknowlege my appreciation because I don”t think everyone wants to read that every time. I do think of it every time though. Thanks once again.2007-01-13 02:22, By: rayray, IP: [66.27.174.162]
L2: interest rate for either of the previous two monthWhat you posted is thedefinition of the maximum interest rate that may be used. For a plan with the first distribution in February, the maximum rate would be 5.70% – the same as the maximum for January.2007-01-13 02:36, By: Gfw, IP: [24.148.85.129]

L2: interest rate for either of the previous two month
There is more than one way to interpret the phrase and now I”m not sure if I”ve been reading this right. Let”s say 120% of the November rate is 5.5 and 120% of the December rate is 5.7 For taking the first 72T distribution in January, would the requirement be that
(a) The rate chosen can be no higher than EITHER of the two months, i.e. no higher than 5.5% since that is the lower of the two. or
(b) Either of the two previous months can be used for establishing the series of withdrawals, either 120% of 5.5% or 120% of 5.7%.
Rich
2007-01-13 08:51, By: Rich, IP: [216.205.217.129]

L2: interest rate for either of the previous two monthb) – but eliminate reference to “120% of”. Make it either 5.5 or 5.7 as the 120% is already in there.2007-01-13 11:18, By: Alan S., IP: [24.116.66.98]