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How to make a retirement account last contribution and first withdrawal at the same age

Submitted by mvhaddad on 22 November 2009 - 9:16pm

I would like to begin drawing down my retirement accounts in 2011 when I retire. However, I may also do a Roth conversion in the same year. That would entail making a last contribution and first withdrawal at the same age, which is prohibited by the program. I could advance the age of last contribution to force an entry into 2011 and then reset the age of last contribution to allow withdrawals to begin in 2011. Is this the correct procedure? Why does the prohibition exist?

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Submitted by Dick Munroe on 23 November 2009 - 3:55pm.
1

The original design tied all retirement accounts together. In fact, Roth's can be handled separately but the code doesn't allow for that. We can put this on the list for new features though.

Best,

Dick Munroe

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