I retired starting February 2011 at age 64 and am receiving a 1099R from NYCERs and SSA1099. Are my yearly distributions from NYCERs classified RMDs?

[ToddL · Accepted solution]

Yes, if the amounts are set by NYCERS and you receive them on a regular basis, they are considered RMDs.

Technically, any monthly pension payment is considered a Required Minimum Distribution (RMD) and the entire amount is an RMD. That is how you need to answer the questions.

First, please be sure that the IRA box is not checked in your data entry.

All retirement accounts, even pensions, must meet the RMD requirements.

However, the way the pension plans meet the RMD requirements is by creating an annuity paid periodically.  Therefore, you may simply select "yes" to the RMD 1st question.  You will also be asked if the amount reported is paid periodically in equal amounts.  By selecting "yes" the RMD requirements are met and you may continue with the tax preparation.