The distribution from my pension is not an RMD as in when you receive required distributions from an annuity or IRA once you hit 72. I am still in my 60s. I had checked with the state pension people and they said they could do a direct rollover of the funds but they would have to do the entire amount. they can not split the payment. Under Rollover methods on page 44 of 590-A under Rollover they talk of "plan loan offset" and also to see "Time Limit for Making a Contribution." in chapter 1 (page 21). I do not think the Plan loan offset section applies due to the nature of the state's pension plan. The last paragraph "Rollovers completed after the 60-day period just informs you that the rollover would be taxable. Not a problem. I am not looking to make a non-taxable contribution. Everything except one section leads me to believe I can do what I asked in my original post. On page 24 of publication 590-A in the "Rollover From Employer's Plan Into an IRA" section. The "Eligible rollover distribution" heading of that section lists exceptions to distributions that qualify for rollover. Number three in that list of exceptions state; "Any of a series of substantially equal periodic distributions paid at least once a year over:
a. Your lifetime or life expectancy,
b. The lifetimes or life expectancies of you and your beneficiary, or
c. A period of 10 years or more."
The phrase "series of substantially equal periodic distributions" makes me wonder why the state says they can do a direct rollover of my monthly check into my Roth IRA? Their payments to me are monthly payments that are equal in size except when each July the monthly amount is changed for a Cost of Living adjustment.
I believe our state's pension plan is a "defined benefit plan" and as such, I should be able to do the rollover according to Table 1-4 on page 22. Qualified Plan to Roth IRA.
Contradiction to the exceptions listed on page 24. Still confused.
