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Retirement tax questions
This is not considered a conversion.
When you withdrew funds from the Oregon PERS and put them into your savings account, that is a distribution (withdrawal) and depending on your age and other rules, it could be considered an early withdrawal. Early withdrawals from a retirement plan incur a 10% penalty, unless you qualify for an exception. To see the rules on early withdrawal Go Here.
When those funds got moved into a Roth IRA that is NOT a conversion. That is simply a contribution to a Roth IRA.
‎January 25, 2023
8:29 AM