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Last Payment Date Calculator – Continuation from p

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ByPeter

L1: Last Payment Date Calculator – Continuation from pThe individuals at Vanguard retirement center have told me that my total yearly distribution must come out my IRA in a calendar year even though I”m taking it on a monthly basis. That is, if I start in,for example, May “03 and want to get $24,000 out over a year, then I need to take the $24,000 over the remaining 8 months of “03 or $3,000 per month and I told them that wasn”t my understanding and that the $24,000would to be spread over the12 months from May “03- April “04 or $2,000 per month. I told them that I would spell outmy monthly distributionschedule via a letter of instruction so they had the details of my SEPP plan.
The letter wouldstate the exact details of my monthly distribution, starting with the starting date of the first monthly distribution along with exactamount dollars and cents. This amount would be the same distribution for the next 10 months, then I would specify the 12th month distribution”s exact dollar and cents so as to meet the the yearly dollar amount needing to be distributed to the penny. Then I would tell that this same monthly distribution needs to continue for 4 addtional years andthe last distribution would end on April [or May of 2008; this is why Iwould like to know thedistribution end monthexactly]
I hope this makes sense and if not please askanother question(s). Perhaps I am not understanding something and I am specifying to much to Vanguard. Please straighten me out if you feel I am going too far on this, but I would rather over specify than under specify and have them distribute the incorrect amount.
Thanks for your assistance and I appreciate your great web site…….Peter2003-02-19 21:17, By: Peter, IP: [127.0.0.1]

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