Roth Conversion or Not

I am turning 65 this year and am seeking professional guidance regarding tax planning strategies for my deferred compensation account. I retired in my early 50s as a state government employee and currently receive a pension as my primary source of income. I am in the 22% federal income tax bracket, am not eligible for Social Security benefits, and have accumulated more than $600,000 in my deferred compensation plan.

I am evaluating whether it would be prudent to gradually convert a portion of these deferred compensation funds to a Roth IRA and pay the associated taxes now, as opposed to waiting until age 73 when required minimum distributions would begin and taxes would be due at that time. I understand that either approach may trigger Medicare IRMAA surcharges, which could impact my overall tax liability and effective tax rate.

I would appreciate your assessment of these options and any additional tax planning strategies that may be appropriate given my circumstances. While I recognize that earlier planning may have been advantageous, I would value your guidance as I consider the most effective path forward.

Thank you