topic Does a PERS retirement plan have an RMD? in Retirement tax questions

Does a PERS retirement plan have an RMD?

sadieflea — Tue, 04 Jun 2019 19:43:25 GMT

Yes. Your Public Employees Retirement System (PERS) reti...

ChelsiE2 — Tue, 04 Jun 2019 19:43:26 GMT

Yes. Your Public Employees Retirement System (PERS) retirement account is subject to the Required Minimum Distributions rules set forth by the IRS.

Re: Does a PERS retirement plan have an RMD?

nubian1948 — Tue, 04 Feb 2020 01:56:19 GMT

How do I know this has been calculated and show this on my return?

Re: Does a PERS retirement plan have an RMD?

MaryK4 — Tue, 04 Feb 2020 04:58:40 GMT

As long as you are getting regular payments from your PERS, as a Qualified Plan you will meet your RMD. @nubian1948

Re: Does a PERS retirement plan have an RMD?

chuck991 — Sat, 30 Jan 2021 23:38:22 GMT

But in the turbotax web page , after you indicate the amount of your distribution for your 1099-R for OPERS, it asks you how your distribution relates to the RMD. it gives you three choices, all of my distribution was RMD, part of it was RMD (and if you choose this one it want to know what part of the distribution was RMD), none of it was RMD. Since this thread indicates opers pension is subject to RMD I have to give one of these answers. But, I don't have the foggiest idea what my RMD is for my pers pension. what answer should I give?

Re: Does a PERS retirement plan have an RMD?

ToddL99 — Sat, 30 Jan 2021 23:50:59 GMT

All pensions are, by definition, Required Minimum Distributions so the correct answer is "All of my distribution was RMD".

All retirement accounts, even pensions, must meet the RMD requirements. However, the way pension plans meet the RMD requirements is by creating an annuity paid periodically (usually monthly).  

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. Therefore, you may simply select "yes" to the RMD 1st question ("Was this an RMD?").  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.

Re: Does a PERS retirement plan have an RMD?

psemien — Mon, 01 Feb 2021 23:11:36 GMT

I get a CALPERS Retirement check monthly. I don't understand what they RMD section is all about.