403b triggering event
Client age 63 retired Jan 1 2010 from MI Public School system and has money in several tax sheltered annuities, the system has since rehired him on a consulting basis part time since he is now collecting social security and is staying below the execess earnings limit. Does he qualify for the triggering event to move the money into an IRA since he is over 59 1/2?
Permalink Submitted by Alan Spross on Fri, 2010-08-06 19:29
Yes, he should be able to do direct rollovers to an IRA. Note that this would eliminate any chance to delay RMDs to age 75 for any pre 1987 accruals he has.