Required minimum distribution (RMD) from traditional IRAs and employer-sponsored retirement plans
Article Excerpt: "...Individuals with IRAs are required to begin lifetime RMDs from their IRAs no later than April 1 of the year following the year in which they reach age 70½. (This is in contrast to RMDs from employer-sponsored plans which, in most cases, may be postponed until after the employee retires or reaches age 70½, whichever is later). ..."
Resource: en.wikipedia.org