Issue link: http://read.dmtmag.com/i/489850
Spring 2015 — www.ncsf.com 31 Over Age 70-1/2? The Internal Revenue (IRS) requires individual retirement account holders to begin taking out at least minimum amounts, known as Required Minimum Distributions, or RMDs, from their accounts once they reach age 70½. That means the IRA money must VWDUWFRPLQJRXWLQVSHFLÀF increments no later than April 1 following the year you reach that age. We would advise you to contact your tax consultant for a complete explanation of your options and requirements under the IRS rules. HAVE YOU CHECKED YOUR %HQH¿FLDU\ Designation? If you have not, we suggest that you do. 3OHDVHUHYLHZ\RXUEHQH¿FLDU\GHVLJQDWLRQDQG make it easy when the time comes. Call the member service department at 1-800-344-6273 H[WIRUFKDQJHRIEHQH¿FLDU\IRUPVRU visit www.ncsf.com for an online form in the members' service section. z :ȱʑɚʃȱɏʤʖȷɏFʝȷHɡʨɵɸɗ ɄɏSʋɨʃȱɏʠURȪȭHGɡԷ\ʝʦɠ Ȫɏԯɔ£FDɀɏWɛʃȱɏȼʑUVʝɚ\ʝɤ ZʋQɢXɡWɛSʋɨ" z ,ɡʃȱɏȩʑȸɏ£ʎLʋʢɨʙLVɀHɍʝɚ \ʝʦɠȪɏԯɔ£FDɀɏVʤɵɸɗʙʖʧʖQɒ" z 'ɛ\ʝɤZʋQɢʃȱɏʠURȪȭHGɡWɛ JɛWɛ\ʝʦɠHVWDɀɏ":ɵɸɗ\ʝɤ KʋɃɏʑQʝXɳɓDʽHWɡWɛȾHʡʦʖȾɏ ʃȱɏFʝɤԭWɛʠUɼEDɀɏ\ʝʦɠ HVWDɀɏ" Your Information is Safe The Society maintains the highest level of FRQÀGHQWLDOLW\FRQFHUQLQJ\RXUFHUWLÀFDWH information – only certain people can receive information about your FHUWLÀFDWH: The Owner of the &HUWLÀFDWH 7KH1DPHG%HQHÀFLDU\ An Authorized Representative – like a power of attorney – legal guardian, etc. 1 2 3