On what date must a living participant actually begin receiving the plan benefit?
|
During a participant's life, the participant's benefit must be distributed by reference to a participant's required beginning date, i.e., typically April 1 of the year following the later of the year in which the participant attains age 70½ or retires. But, in the case of a 5% owner, distributions must begin by the April 1 or the year following the year in which the participant attains age 70½ -- the distribution may not be deferred until the participant actually retires. |
