How to Calculate Income and Assets from Pensions and Retirement Accounts
When you calculate a household's annual income, you may encounter a household member who has money in a pension fund or retirement account. It's important to know how to treat this money. But HUD rules on what to do can get confusing.
How you treat money from pension funds differs from how you treat money from retirement accounts, such as 401(k)s and individual retirement accounts (IRAs). We'll help you sort out the rules on both so you can properly calculate household income and assets.