The Distributions report appears on the right side of the screen. The following description only describes required minimum distributions for plan owners who have reached RMD status. (The Secure Act has changed the age from 70½ to 72). Owners who are born on 6/30/1949 or before, will continue to use 70½ as the start of the RMDs, where those born on 7/1/1949 or after, their RMD age will be 72. If you have selected Use Pre-59½ Distributions, see the Pre-59 ½ Distributions report.
The Distributions Report lists the following information:
Year This column lists each year that the program calculates a distribution. By default, the program displays years of death for the owner and beneficiary in red. You can change the color using the Report Options.
Age This column lists the owner’s age in each year.
Plan Balance This column lists the total amount of money in the owner’s plan in each year. To calculate the Plan Balance for each year, the program uses the following formula:
(Current Plan Balance) * (1 + Expected Plan Growth) – (Calculated Distribution) + (Contributions)
Life Expectancy Factor This column lists the life expectancy factors that are used to calculate the minimum distribution. To calculate the life expectancy factors, the program uses the ages of the Owner and/or the Beneficiary and applies them to the minimum distribution rules.
Distribution Amount This column lists the distribution in each year. To calculate the distribution amount, the program amortizes the Plan Balance over the Life Expectancy factor.
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