Managing a Retirement Plan Activity

I'm looking for assistance with tracking and managing a retirement plan for my client. Should the retirement account be categorized as an asset or a bank? Also, how do I track distributions? My client is required to take rmd, and it automatically transfers into her checking account on a monthly basis. How do I post the funds transfer, and at the same time track the distributions?

Do I need to post a general journal entry in addition to the funds transfer?  I created a "Retirement Distribution" Income account, but not sure what the offsetting account should be. Also, how would I track the tax withholding?