Accounting, Payroll & Pension Issues/keogh contributions

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Expert: - 7/6/2010


Question
can i still make contributions to my keogh plan after 70.5 years old if still working and earning money?

Answer
Yes you can. You can not make contributions to an IRA. However, there is no limitation on contributions to a Keogh.

Note, however, that you will have to begin receiving required minimum distributions. So a portion of the money in your account must be distributed each year.

Accounting, Payroll & Pension Issues

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Allen

Expertise

Pension questions ONLY. Pension, profit sharing, and 401(k) plan design, installation, administration and actuarial services; rollovers to Individual Retirement Accounts; taxation of retirement plan distributions

Experience

Over 35years experience in the pension field

Organizations
Various actuarial organizations

Education/Credentials
MBA and various professional certifications

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