BobinNJ Posted April 6, 2012 Report Share Posted April 6, 2012 If you are in a construction union with a union pension plan, is that considered having a pension plan when IRA contributions are being calculated? All of his w-2's, and there are many, and not the same employer from year to year, do not have pension box checked. Each individual employer pays certain monies to the union toward his benefits, but does that prevent him from funding his own IRA? Quote Link to comment Share on other sites More sharing options...
Kea Posted April 7, 2012 Report Share Posted April 7, 2012 As I understand it, the criteria is if it is a "qualified" pension plan. When I took the HRB class they told us we should use the W2 pension box as our guideline. But we all know those can be wrong. I am familiar with one person who had a union pension that was not qualified. He made IRA contributions until one year the box was checked. I think the company many some changes to the pension. Quote Link to comment Share on other sites More sharing options...
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