15. Steve, age 69, is an employee of X2, Inc. He plans to work until age 75. He

Question

15. Steve, age 69, is an employee of X2, Inc. He plans to work until age 75. He currendly contributes 6 percent of his pay to his 401(k) plan, and his employer matches with 3 percent a. Steve is required to take minimum distributions from his 401(k) plan beginning b. Steve is required to take minimum distributions from his 401(k) plan beginning c. Steve is required to take minimum distributions from his Traditional IRA Which one of the following statements is true? April 1 of the year after he attains age 701% April 1 of the year after he retires. beginning April 1 of the year after he retires. d. Steve cannot contribute to his 401(k) plan after age 70% in any case.

Explanation / Answer

a. Steve is required to take minimum distributions from his 401 (K) plan beginning April 1

of the year after he attains age 70 1/2

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