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Receive any distributions from a retirement plan after 2015 (Retirement Savings Contribution)? Should my answer be yes if we received IPERS?

 
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MichaelL1
Level 15

Receive any distributions from a retirement plan after 2015 (Retirement Savings Contribution)? Should my answer be yes if we received IPERS?

You are correct the answer would be yes if you were collecting from IPERS.

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4 Replies
MichaelL1
Level 15

Receive any distributions from a retirement plan after 2015 (Retirement Savings Contribution)? Should my answer be yes if we received IPERS?

You are correct the answer would be yes if you were collecting from IPERS.

View solution in original post

Hal_Al
Level 15

Receive any distributions from a retirement plan after 2015 (Retirement Savings Contribution)? Should my answer be yes if we received IPERS?

Essentially, getting any retirement payments disqualifies you from the Retirement Savings Contribution Credit
Huskypup
Returning Member

Receive any distributions from a retirement plan after 2015 (Retirement Savings Contribution)? Should my answer be yes if we received IPERS?

Getting a monthly pension check, and getting the 1099-R (as income) disqualifies me from the savings credit? I also contribute to a 401k and an IRA.
Hal_Al
Level 15

Receive any distributions from a retirement plan after 2015 (Retirement Savings Contribution)? Should my answer be yes if we received IPERS?

Simple answer: Yes.
Technically it   depends on the amount of your pension. But, the measurement period is three years back. That is, all pensions received from 1-1-16 to 4-15-19 count against ythe calculation of the savers credit for 2018. See line 4-7 on form 8880. <a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-pdf/f8880.pdf">https://www.irs.gov/pub/irs-pdf/f8880.pdf</a>
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