If they don't have to, they're not doing it: most individual retirement account owners are not making withdrawals from their IRAs unless obliged to by law because of their age.
Those are the most recent findings from the IRA database of the Employee Benefit Research Institute. Data indicated that only slightly more than 22 percent of those who have either a Roth or a traditional IRA took a withdrawal in 2013.
Most of those withdrawals went to individuals aged 70.5 or older who owned traditional IRAs. That group must make withdrawals under federal required minimum distribution (RMD) rules for IRA owners who have reached that age group.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
