SAP ABAP IMG Activity SIMG_V_TRTP_US_AGE_L (Maintain age limits)
Hierarchy
☛EA-FINSERV (Software Component) SAP Enterprise Extension Financial Services ⤷IS-B-BCA (Application Component) Bank Customer Accounts ⤷BCA_US (Package) BCA modification for US specific requirements
Hypertext: Object Class - Class to which a document belongs.
Document Name
SIMG_V_TRTP_US_AGE_L
Maintain the age limits for making contributions to and taking distributions from a retirement plan.
Four age limits can be maintained per retirement plan type:
The age limit at which contributions to a retirement plan can be made.
The age limit at which contributions to a retirement plan cannot be made (without being subject to a penalty tax). Example: when the accountholder of a Coverdell education savings account turns 18, contributions cannot be made to his/her IRA.
The age limit at which the accountholder is eligible to make distributions. Example: when the accountholder of a traditional IRA turns 59.5, he/she is eligible to make distributions from his/her IRA.
The age limit at which the accountholder is required to make distributions. Example: when the accountholder of a traditional IRA turns 70.5, he/she is required to make distributions from his/her IRA. Failing to do this will lead to a tax penalty.