On December 1, 2020, Irene turned 73 years old. She is still working for her employer and she participates in her employer's 401(k)plan. Irene is not required to receive a required minimum distribution for 2020 from her 401(k)account because she has not yet retired.

Question

Quizplus · Accepted Answer

Individuals who are still working for their employer and participate in their employer's 401(k) plan are not required to take required minimum distributions until they retire, unless they own more than 5% of the company. Therefore, Irene is not required to receive a required minimum distribution for 2020 because she has not yet retired.

On December 1, 2020, Irene Turned 73 Years Old