From then on, you must take
at least the required minimum amount each year, based
on your age and the value of your account at the end
of the previous year. You can always take more if you
wish.
If your employer is still the trustee or the money has
been used to buy an annuity in your name, the correct
amount will be paid to you. You aren’t responsible
for the calculation or the withdrawal, but you also may
not be able to withdraw more than the minimum amount.
Some people think withdrawing the annual earnings in their IRA will satisfy the minimum distribution requirements, but they’re wrong. In some years, that approach means taking too much, and in other years taking too little.
