Single Life Expectancy Table Calculator

This calculator determines the minimum required distribution known as both rmd or mrd which is really confusing from an inherited ira based on the irs single life expectancy table.

Single life expectancy table calculator.

This calculator will show you the average number of additional years a person can expect to live based only on the gender and date of birth you enter. This calculator will calculate life expectancy based on how long the irs is betting you will live and then display your life odometer based on that result. These actuarial tables do not apply to valuations under chapter 1 subchapter d relating to qualified retirement arrangements nor. This information has been provided by the us census and social security administration.

Determine the appropriate life expectancy as follows. This table does not use your beneficiary s age to calculate your life expectancy. Choosing single life expectancy will produce the highest distribution of the three available. This table can be used by all account owners regardless of marital status or selected beneficiary.

Note that the minimum is different for spouses and non spouse beneficiaries. The calculator is based on table i from irs publication 590 b 2014 which is one of three irs tables used to determine required minimum distributions rmds for qualifying retirement. Fidelity does not provide legal or tax advice. Section 7520 of the internal revenue code requires the use of a set of actuarial tables for valuing annuities life estates remainders and reversions for all purposes under title 26 except for certain purposes stated in the statute or provided by regulation.

To make the comparison easier the calculator only shows monthly tsp installment payments since annuity payments are always monthly. This calculator estimates how a given amount of money might translate into monthly income whether through tsp installment payments or through the various life annuity options. Life expectancy tables actuarial life tables. Actual longevity is based on many factors not all of which are captured here.

If the beneficiary is an individual to figure the required minimum distribution for 2020 divide the account balance at the end of 2019 by the appropriate life expectancy from table i single life expectancy in appendix b. This calculator assumes you do not have a terminal illness and does not ask about most serious diseases other than diabetes. Results are based on a statistical regression of. Sometimes referred to mortality tables death charts or actuarial life tables this information is strictly statistical.

The information provided by fidelity investments is general in nature and should not be considered legal or tax advice.