December 1973 Eligibility Requirements Manual – Table of Contents

1025.015.07 Retirement Accounts

IM-87, June 15, 2020

Funds held in an Individual Retirement Account (IRA), 401, 403, Keogh, other pension, or deferred compensation plan that can be accessed by the participant are a countable resource.

Accounts are inaccessible when it has been verified by the holding company that funds cannot be accessed until some future date or event occurs. Common future dates are retirement, leaving employment, or attainment of a certain age.

Accounts are accessible when it has been verified by the holding company that funds are available.

The amount held in the account, less any penalty required for early withdrawal is an available resource. Taxes withheld are not excluded from the value.

Some employer sponsored accounts are held separately from the employee contributions, and only the portion contributed by the employee is available.

NOTE: In this situation enter as 2 separate accounts, carefully identifying which portion is represented by each entry.

See Retirement User Guide for system entry instructions.