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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.

  1. Whose job is it to ensure that participants and beneficiaries of retirement plans are made aware of their rights and responsibilities concerning asset investments?
    1. Plan administrator
    2. Hiring manager
    3. Company CEO
    4. Payroll coordinator  
  2. At what age must individuals start taking withdrawals known as a Minimum Required Distribution (MRD)?
    1. 65
    2. 80 ½
    3. 70 ½
    4. 75 
  3. What is the required beginning date for an MRD following the year an individual turns the required age?
    1. December 1
    2. January 1
    3. May 1
    4. April 1
  4. What is the penalty for failing to take an MRD at the appropriate time? 
    1. 20% forfeit of expected funds
    2. 50% forfeit of expected funds
    3. 100% forfeit of expected funds
    4. 70% forfeit of expected funds

Make sure you’re up-to-date on your retirement MRD knowledge!: Answers

  1. a
  2. c
  3. d
  4. b
retirement-benefits
Retirement Benefits

Do you know what you need to know about MRDs from retirement plans? Take this short quiz to find out. Click below for answers.

  1. Whose job is it to ensure that participants and beneficiaries of retirement plans are made aware of their rights and responsibilities concerning asset investments?
    1. Plan administrator
    2. Hiring manager
    3. Company CEO
    4. Payroll coordinator  
  2. At what age must individuals start taking withdrawals known as a Minimum Required Distribution (MRD)?
    1. 65
    2. 80 ½
    3. 70 ½
    4. 75 
  3. What is the required beginning date for an MRD following the year an individual turns the required age?
    1. December 1
    2. January 1
    3. May 1
    4. April 1
  4. What is the penalty for failing to take an MRD at the appropriate time? 
    1. 20% forfeit of expected funds
    2. 50% forfeit of expected funds
    3. 100% forfeit of expected funds
    4. 70% forfeit of expected funds

Make sure you’re up-to-date on your retirement MRD knowledge!: Answers

  1. a
  2. c
  3. d
  4. b

Do you know what you need to know about MRDs from retirement plans? Take this short quiz to find out. Click below for answers.

  1. Whose job is it to ensure that participants and beneficiaries of retirement plans are made aware of their rights and responsibilities concerning asset investments?
    1. Plan administrator
    2. Hiring manager
    3. Company CEO
    4. Payroll coordinator  
  2. At what age must individuals start taking withdrawals known as a Minimum Required Distribution (MRD)?
    1. 65
    2. 80 ½
    3. 70 ½
    4. 75 
  3. What is the required beginning date for an MRD following the year an individual turns the required age?
    1. December 1
    2. January 1
    3. May 1
    4. April 1
  4. What is the penalty for failing to take an MRD at the appropriate time? 
    1. 20% forfeit of expected funds
    2. 50% forfeit of expected funds
    3. 100% forfeit of expected funds
    4. 70% forfeit of expected funds
2658588629
Answer