“Still working” means you have not retired from the position in which you were covered by the 403(b) plan. If you retire from a teaching position and continue to work for the school as an occasional substitute teacher, you are no longer contributing to the 403(b) plan, and thus you are considered retired.
Check with your retirement plan administrator to be sure but, if you have signed official retirement papers and are collecting a retirement pension, you are probably considered retired and are, therefore, not eligible for the “still working exception” which allows older workers to postpone their required minimum withdrawals (RMDs) from tax-deferred savings plans to April 1 of the year after the year that they retire.
Also keep in mind that the “still working exception” applies only to a current employer’s retirement plan and does not affect IRAs or retirement plans (e.g., SEPs) established by those who do full- or part-time self-employment work.
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