Using Uniform Lifetime for Life Expectancy

If you your spouse is of a similar age to yourself, then the best way of working out your RMD is through the uniform lifetime table. Couples who have a significant difference in age, or at least 10 years, will be required to use the joint life and last survivor expectancy tables.

Locate your Age on the Table

If your spouse is less than 10 years your age, you can use the uniform lifetime table to work out how much RMD you must take each year. Find a table and find your age. For example, if you are 70, then you will find this number in the age column, and then go right to the next set of numbers. The numbers should be called the distribution period number.

Work out the RMD

Next, you should take the distribution period number and use it to divide the total amount of funds available to you. For example, a distribution of 27.4 years would divide 100,000 into 3649.64. This is the amount that you would need to withdraw from your retirement fund each year.

blog comments powered by Disqus