It depends on the terms of your new employer’s plan. Usually you have to start RMDs once you reach age 701/2. However, if the terms of the plan allow participants to postponed RMDs until they cease employment there and you do not own 5% or more of the company, then you do not have to start your distributions now (even though you’re over age 701/2). Check with the plan administrator.
Tax paid by self-employed persons to finance Social Security coverage. In 2007, there are two rates. A 12.4% rate applies to a taxable earnings base of $95,700 or less and a 2.9% rate applies to all net earnings.