Felicia is a single taxpayer who retired from her job as a sales executive with Waynesville Associates, LLC During 2010, she turns 70 and begins withdrawing the $320,000 in assets (balance as of December 31, 2009) in her pension account Her pension plan is a qualified noncontributory plan a What is...

a Felicia must contribute an amount that is calculated by finding the appropriate factor from ...

Felicia is a single taxpayer who retired from her job as a sales executive with Waynesville Associates,

Question:

Felicia is a single taxpayer who retired from her job as a sales executive with Waynesville Associates, LLC. During 2010, she turns 70½ and begins withdrawing the $320,000 in assets (balance as of December 31, 2009) in her pension account.

Her pension plan is a qualified noncontributory plan.

a. What is the required minimum distribution that Felicia must take?

b. Assume that the pension plan account balance on December 31, 2010, is $301,000. What is Felicia’s minimum required distribution for 2011?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...