is a sep ira a defined contribution plan
RMD Comparison Chart (IRAs vs. Defined Contribution Plans) This chart highlights some of the basic RMD rules as applied to IRAs and defined contribution plans (e.g., 401(k), profit-sharing, and 403(b) plans). Required Minimum Distributions for Account Owners. IRAs including SEP, SIMPLE and SARSEP IRAs. Defined Contribution Plans. You reach age 70Â½ on the date that is 6 calendar months after the date of your 70th birthday. Example: Your 70th birthday was June 30, 2010. You reached age 70Â½ on December 30, 2010.