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November 2, 2007, Newsletter Issue #70: Required Minimum Distributions and Your Traditional IRA
Tip of the Week
Traditional IRAs don't sit around forever earning interest. At the time you reach 70 1/2 years old you must take what is called, “Required Minimum Deductions”. The Required Minimum Deductions will be calculated by the trustee of the IRA. There is also a penalty fee if the Required Minimum Deduction is not administered by the due date.
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