InstituteTest Yourself QuestionsMinimum Required DistributionAssociate Benefits & CompensationHR GeneralistRetirement BenefitsHuman ResourcesEnglishAnalysisFocus AreaUSA
Make sure you’re up-to-date on your retirement MRD knowledge!
Do you know what you need to know about MRDs from retirement plans? Take this short quiz to find out. Click below for answers.
- Whose job is it to ensure that participants and beneficiaries of retirement plans are made aware of their rights and responsibilities concerning asset investments?
- Plan administrator
- Hiring manager
- Company CEO
- Payroll coordinator
- At what age must individuals start taking withdrawals known as a Minimum Required Distribution (MRD)?
- 65
- 80 ½
- 70 ½
- 75
- What is the required beginning date for an MRD following the year an individual turns the required age?
- December 1
- January 1
- May 1
- April 1
- What is the penalty for failing to take an MRD at the appropriate time?
- 20% forfeit of expected funds
- 50% forfeit of expected funds
- 100% forfeit of expected funds
- 70% forfeit of expected funds
Make sure you’re up-to-date on your retirement MRD knowledge!: Answers
- a
- c
- d
- b