Q.: I'm 72. At $1.3 million, my TRS 403(b) account is at an all-time high and with it, my Required Minimum Distribution (RMD) for 2022 will also be at an all-time high. Is there any way to alleviate this tax bite? P.G.
A.: Yes, there is. The IRS has revised its Uniform Lifetime Table (Table III) to reflect the increase in life expectancy (longevity) that has occurred in recent years. Table III is to be used by: Unmarried Owners, Married Owners Whose Spouses Aren't More Than 10 Years Younger, and Married Owners Whose Spouses Aren't the Sole Beneficiaries of Their IRAs. This table is also to be used by owners of 457(b), 401(k) and 403(b) accounts. Table III may be downloaded here.