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Is there a way to contribute to a fund to decrease my

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Is there a way...

Is there a way to contribute to a fund to decrease my retirement income?

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I have a NYSRS retirement account and have been told by a nys health insurance navigator that I have to reduce my income to qualify for health insurance. So I am trying to findj out what I can do

Submitted: 4 months ago.Category: Tax
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Answered in 1 hour by:
11/30/2017
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 4 months ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 13,989
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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Please don’t shoot the messenger here, but in the interest of getting your question answered accurately, the only way to do that is if you have earned income.If you DO have EARNED income, say, from a part time job and it’s that income PLUS the pension that’s making your income too high, then an IRA contribution could lower that by as much as $5500 - $6500 if you’re over age 50
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Lane
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 13,989
13,989 Satisfied Customers
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986

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