Required minimum distributions begin at 73

From the Department of Retirement Systems:

Do you have DCP or Plan 3? If so, keep in mind that federal law requires you to withdraw a minimum amount from your investment account when you reach age 73 if you are separated from employment.

The DRS record keeper, Voya, calculates this required minimum distribution (RMD) and pays out this amount to you automatically each year. You can also take out your own withdrawals to meet the minimum. Completing the annual minimum withdrawal, either on your own or automatically through the record keeper, helps you avoid the tax penalty (up to…