Reply To: 403(b) => Roth IRA after age 59-1/2

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#71283
thales
Participant

Alan, thank you so much. First, yes, I was told by the plan rep that after 59.5 it can be withdrawn, as it is a voluntary salary reduction program.

I’m glad you found this good news for me. Just to make sure:

I was looking at a different paragraph than the one you are referring to. I was looking at p.13:

Pension and annuity income exclusion
If you were age 59½ or older for the entire tax year, you may exclude up to
$20,000 of………

What’s the difference between p.13 and p.11-12 that you were referring to, with regard to whom it applies to? Do the two exclude each other? Sounds like you are saying I belong to the p.11-12 thus not subject the $20,000 limit. When I saw p.13 most of the qualified pension item includes the word “periodic”, I thought my salary reduction (which are the contributions to my 403(b)) were made every pay period, so that counts as “periodic”.

So who does the p.13 paragraph apply to?

Hope you could clarify this for me. When I asked the plan rep, she had never heard of the $20,000 limit rule at all, so I’m not sure if she’s knowledgeable enough when she told me all will be exempt from state taxes.