I receive pension payments from the Illinois Teachers Retirement System. It is a 401a plan and they say it is a qualified plan. There is no RMD, however.

Jimbo36819 · ‎June 5, 2019

The followup questions when I enter the data do no apply to this plan. Do I simply indicate it is NOT a qualified plan?

macuser_22 · ‎June 5, 2019

No- it is a qualified plan.

Virtually all pension plans in existence today fall under section 401 of the tax code and they all require RMD's after age 70 1/2. The question is just to be sure that the requirement was met. If you receive periodic (monthly) payments from any pension plan you can be assured that the custodian of the plan is meeting the requirements so you can safely answer "yes" to the question.

The answer to the question does not go on your tax return, it is simply to make sure you do not owe any penalty for not taking the RMD.

https://ttlc.intuit.com/replies/3302117

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

View solution in original post

macuser_22 · ‎June 5, 2019

No- it is a qualified plan.

Virtually all pension plans in existence today fall under section 401 of the tax code and they all require RMD's after age 70 1/2. The question is just to be sure that the requirement was met. If you receive periodic (monthly) payments from any pension plan you can be assured that the custodian of the plan is meeting the requirements so you can safely answer "yes" to the question.

The answer to the question does not go on your tax return, it is simply to make sure you do not owe any penalty for not taking the RMD.

https://ttlc.intuit.com/replies/3302117

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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I receive pension payments from the Illinois Teachers Retirement System. It is a 401a plan and they say it is a qualified plan. There is no RMD, however.