69 Year old on pension; also earns W2

[Bjorn]

A widow is on a generous pension and also works and get a nice w2.

He put in $3500 into a traditional IRA and took the deduction.

Since his current W2 job does not have any retirement plan he wanted to triple check that is was OK to collect a pension from one former employer and put money into an IRA from a second career.

[B C]

From what you state, I do not see any problem contributing to the IRA, but given the age of the person, he will have to start taking out the money in a year and a half when he reaches 70-1/2. If no SS invloved then you won't need to worry about any reduced deduction.

[Mark Goldberg]

70.5

Remember, in the year taxpayer turns 70.5 not only do minimum distribtuions start but taxpayer can no longer contribute to a traditional IRA. Roth IRS contributions are allowed.