Carlos Ribeiro

I was assuming that if you turn 64 anywhere during tax year you would not be eligible. We build software and are exactly as confused as you may imagine. Now our attention is turned to how to define the employee is not eligible. By reading I.R.C. § 414(v)(2)(B)(ii), "an eligible participant who would attain age 60 but would not attain age 64 before the close of the taxable year", I infer that if the employee turns 64 anywhere within the tax year (let's december) they are already ineligible. I can relate to that 😿