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L1: Re-calculationWill be 3 years into SEPP at the end of 2008 – Also over 59.5 now. Thinking about using my one-time change to MINIMUM DISTRIBUTION method. I understand there is no Interest Rate involved in recalculation. My question is do I have to use Joint Life Table or can I choose to use the Single-Life Table. Beneficiary is only1 year younger. When I set up the original SEPPwith theAMORITZATION method – I don’t think I used the Joint Life – Hope this wasn’t a problem. If I didn’t use Joint Life back in 2006 am I now locked in to the Single Life Table -My goal isto lower payout to as small as possible because I probably won’t need as much for the remaining two years of the SEPP (and YES the balance has fallen considerably). If I need more $$$, I do have an add’l IRA which was not factored into the original SEPP universeand now that I am over 59.5 I could make additional withdrawals from that IRA if needed.So the question is: can I use the Joint Life Tables to lower the payout for the next two years?Thanks,meb242008-11-02 11:03, By: meb24, IP: []
L2: Re-calculationYou canuse any of the 3 tables you wish.Under the following copiedportion of Section 3 of 2002-62, when you make the one time switch, any of the 3 tables is available to you. This provides flexibility to fine tune the amount of your new 72t distribution under the RMD method regardless of the Table you selected for your original calc:>>>>>>>>>>>>>>>>>>>SECTION 3. EFFECTIVE DATE AND TRANSITIONAL RULES The guidance in this revenue ruling replaces the guidance in Q&A-12 of Notice 89-25 for any series of payments commencing on or after January 1, 2003, and may be used for distributions commencing in 2002. If a series of payments commenced in a year prior to 2003 that satisfied 72(t)(2)(A)(iv), the method of calculating the payments in the series is permitted to be changed at any time to the required minimum distribution method described in section 2.01(a) of this guidance, including use of a different life expectancy table. >>>>>>>>>>>>>>>>>>>2008-11-02 15:03, By: alan+s., IP: []