How do I calculate my required minimum distribution?

Generally, a RMD is calculated for each account by dividing the prior December 31 balance of that IRA or retirement plan account by a life expectancy factor that IRS publishes in Tables in Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs).

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Likewise, people ask, does a 457 plan required minimum distribution?

If you are a government or non-profit employee, you may have a 457(b). In this case, your savings in this plan can be rolled over, like assets in a 401(k). There is no penalty for early withdrawals but you must take a minimum distribution from age 72.

Also to know is, what is the required minimum distribution for 2021? You reach age 70½ after December 31, 2019, so you are not required to take a minimum distribution until you reach 72. You reached age 72 on July 1, 2021. You must take your first RMD (for 2021) by April 1, 2022, with subsequent RMDs on December 31st annually thereafter.

Herein, do I have to take RMD from 457 if still working?

Since you are still working for the employer sponsoring your 457(b), you will not need to take your initial minimum required distribution from that plan until April 1 following the year in which you retire from that employer.

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