Retirement tax rules

Three important birthdays affect your retirement plan:

* At age 50, you can make extra “catch-up” contributions to your IRA and 401(k) savings. For 2013, these are $1,000 and $5,500, respectively.

* After age 59½, you’re eligible to make penalty-free withdrawals from your IRAs.

* Beginning no later than the year after you reach age 70½, you’re required to take minimum distributions from your traditional IRAs each year.

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