rollovers 403b
Client annuitized his 403b over 5yrs. He now wants to take remaining 3yrs of payments yearly and do a rollover into his ira. Can this be allowed or is it considered required distribution since it was annuitized?
Client annuitized his 403b over 5yrs. He now wants to take remaining 3yrs of payments yearly and do a rollover into his ira. Can this be allowed or is it considered required distribution since it was annuitized?
Permalink Submitted by Alan Spross on Tue, 2010-05-18 21:36
He could roll over amounts that are in excess of his normal RMD, since the annuitization was not based on his individual or joint life expectancy (not unless he was extremely old).