Expert: Allen - 8/27/2008

Question
Do IRS regulations prohibit the rollover of monthly single life annuity payments from a pension plan into an ira? I am 63 and single. I want to roll over 2 years of pension payments into an ira then begin receiving payments directly at 65 until death.

Answer
You can not roll monthly payments to an IRA. You can only rollover a distribution that is considered a lump sum.

However, yYou may be able to accomplish what you are trying to do by asking the plan administrator if you can elect a deferred annuity with payments beginning at age 65. If this option is available, the monthly payments that begin at age 65 will be larger than the payments that start at age 63.