This is a distribution that must be taken from qualified retirement plans (IRA, 401(k), 403(b), 457s) when the individual is 72 years of age or older. This minimum amount comes out of the tax-qualified retirement plan each year and gets taxed as ordinary income.
CFP® certification is a voluntary certification granted in the United States by Certified Financial Planner Board of Standards, Inc. It is recognized in the United States and a number of other countries for its (1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical requirements that govern professional engagements with clients. Individuals who become certified are required to complete continuing education.