Who Gets the Money? –Taking Distributions from IRAs, 401(k)s and Other Retirement Plans

Putting money into IRAs, Roth IRAs and other tax-deferred retirement savings plans was a smart thing to do. Understanding the rules about taking the money out is equally important. Some of the questions this lesson will answer include: Can I change my beneficiary after I reach the magic age of 70 ½? How are distributions taxed? How do I know how much to take out each year? What rules apply if I inherit my spouse's IRA? What happens to the money when I am gone?

Teleconference Classes will be offered on the following dates:

Tuesday, September 12, 10-11:30 AM

Thursday, January 11, 2007 from 10 am to 12 noon

Thursday, May 10, 2007 from 7 pm to 9 pm

Presenter: Karen M. Chan (CFP)

Extension Educator, Consumer and Family Economics

University of Illinois Extension

Classes will be held at:

McLean County Extension Office

402 N. Hershey Road

Bloomington, IL 61704

There is no cost; please call 309-663-8306 and register so that we have materials ready for you.