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Shannon participates in her employers 401(k) plan. She turns 70 years of age on February 15, year 1, and she plans on retiring on May
Shannon participates in her employers 401(k) plan. She turns 70 years of age on February 15, year 1, and she plans on retiring on May 1, year 2. When must Shannon receive her first distribution from the plan to avoid minimum distribution penalties?
Multiple Choice
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April 1, year 2
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April 1, year 1
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April 1, year 3
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April 1, year 4
(guess : April 1, year 4)
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