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Important Notice
On December 23, 2008, President Bush signed into law the Worker, Retiree and Employer Recovery Act of 2008. This legislation affects individuals who are otherwise eligible for Required Minimum Distributions (RMD) and beneficiaries of deceased contract owners. In general, individuals who are eligible for RMD are those with certain qualified plans (including IRAs) who have already attained age 70 ½ or who will attain 70 ½ during 2009.
Under this law, those who are RMD eligible are not required to take a minimum distribution for the 2009 tax year. However, if you attained the age of 70 ½ during 2008 and deferred your first RMD for the 2008 tax year, you are still required to take the 2008 RMD payment prior to April 1, 2009.
If you are receiving automatic distributions for RMD and would like to stop or suspend these payments, please contact our Customer Service Department at (800) 752-7215 prior to the automatic distribution date.
Qualified Annuity Owners
The Internal Revenue Service requires owners of Individual Retirement Annuities (IRAs) and tax deferred qualified retirement plans to begin taking distributions at age 70½.
Sun Life Financial offers a Minimum Distribution Program* for all IRA account holders and 403(b) annuity plan participants to satisfy annual RMDs automatically. You may enroll in the program by completing the application entitled Required Minimum Distribution (RMD) Request Form for Owners.
To learn more about our program and IRS RMD enhancements, please see our RMD Fact Sheet.
If you still have more questions please visit our RMD Frequently Asked Questions page or visit www.irs.gov.
Annuity Beneficiaries
If you are a beneficiary on a qualified annuity plan and would like information regarding how RMDs affect you, visit our IRA/403(b) Beneficiary Info page. If you are a beneficiary on a nonqualified annuity and would like to learn more information about your options please visit our Nonqualified Beneficiary Info page**.
*Sun Life Financial's Minimum Distribution Program is designed for noncustodial Individual Retirement Annuities (IRAs) and non-ERISA tax sheltered
annuities (403(b) plans) only.
**Please note: IRS regulations for Required Minimum Distributions do not apply to nonqualified annuity plans.
SLPC 19890 (01/09) (Exp. 07/10)
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