Ghon is a married taxpayer who retired from his job at Smithfield Printing in 2010. During 2011,

Question:

Ghon is a married taxpayer who retired from his job at Smithfield Printing in 2010. During 2011, he turns 70½, and begins withdrawing the $215,000 (balance as of December 31, 2010) in assets in his pension account. Smithfield maintains a noncontributory pension plan. Determine the required minimum distribution that Ghon must take.

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...