Qualified Monthly Pension Payments to IRA
Hi Alan,
I have a client that is still working and saving for retirement but receiving monthly Qualified Defined Pension Payments. Can the client have these payments of about $18k directly deposited to an IRA to keep them tax sheltered until he retires?
Thanks
Permalink Submitted by Alan - IRA critic on Tue, 2015-04-14 00:54
If the payments are the typical pension payments for life or joint life with the beneficiary or over a period of 10 years or more, they are not eligible for rollover. If paid over a period of less than 10 years, the portion of the annual distribution that is not considered to be an RMD can be rolled over.
Permalink Submitted by Heidi Davis on Tue, 2015-04-14 01:00
OK. Thanks