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Lynn Brenner

FAMILY FINANCE

Making annuity withdrawals

Lynn Brenner
In 1993 my financial adviser transferred money I had in a credit-union IRA into a single premium deferred annuity. Now that I have reached 70 1/2, I must take required minimum IRA distributions. My insurance company told me since this account is an annuity, I do not have to make withdrawals. I am taking withdrawals from other IRA accounts. Is the insurer giving me the correct advice, or do I also have to take IRA withdrawals on this annuity? EC via email

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A videogame console

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YOUR MONEY

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No docked pay for exempt workers

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