Ret. Plan “active participant” question
I have a question regarding the income phaseout for deductible IRA contributions for “active participants.”
If a person worked and was an active participant in their company plan in January of 2013 and then separated from service, are they subject to the income phaseout as if they had worked the full year?
Permalink Submitted by mk foss on Tue, 2013-03-26 19:02
If you participate at any time during the year, you’re considered an active participant for the full year.