RMD’s for a 70 1/2 year old who is still employed fulltime?
My employer (District of Columbia)set up a rollover IRA with TIAA CREF for me when I joined them as a fulltime employee on January 1, 2012.
I was born January 1943.
Is there anyway I could rollover numerous IRA’s and TIAACREF accounts to the DC rollover IRA and avoid RMD’s in 2013?
Permalink Submitted by Alan - IRA critic on Tue, 2013-10-29 22:57
Are you sure the type of account they set up in 2012 is an IRA and not another type of plan? Large employers do not normally set up IRAs except to roll small balances into at separation. If the account is really an IRA, you must start RMDs at 70.5 which is this year although you can defer the first year RMD as late as 4/1/2014. Of course, rolling more plans into an IRA will not avoid RMDs on all of them. If your plan is NOT an IRA of any type, then rolling your other IRA accounts into that plan will avoid RMDs for years AFTER 2013 (but not for 2013 which can be taken as late as 4/1/2014) as long as you continue working the required number of hours.