Guest lightfingers Posted September 11, 2007 Share Posted September 11, 2007 May a governmental plan qualified under Section 401(a) accept rollovers by employee/participants from another qualified plan or IRA in which they participated? Link to comment Share on other sites More sharing options...
Guest cprbcompliance Posted December 5, 2007 Share Posted December 5, 2007 May a governmental plan qualified under Section 401(a) accept rollovers by employee/participants from another qualified plan or IRA in which they participated? Governmental plans can accept rollovers in order to purchase service credit. Link to comment Share on other sites More sharing options...
QDROphile Posted December 5, 2007 Share Posted December 5, 2007 Qualified governmental plans are generally no different from other qualified plans with respect to rollovers. Link to comment Share on other sites More sharing options...
mctoe Posted November 10, 2016 Share Posted November 10, 2016 Qualified governmental plans are generally no different from other qualified plans with respect to rollovers. At separation of service from a gov't DB plan is a participant permitted to rollover governmental 457(b) funds to the DB plan to purchase an "annuity" (increased pension benefit). The participant would not be purchasing service credits. Link to comment Share on other sites More sharing options...
Carol V. Calhoun Posted January 24, 2017 Share Posted January 24, 2017 On 11/10/2016 at 10:57 AM, mctoe said: At separation of service from a gov't DB plan is a participant permitted to rollover governmental 457(b) funds to the DB plan to purchase an "annuity" (increased pension benefit). The participant would not be purchasing service credits. It depends on the terms of the DB plan. A DB plan is permitted, but not required, to accept rollovers. And if it accepts them, it can provide for whether they simply go into an account for the participant, or may be used to purchase an annuity. mctoe 1 Employee benefits legal resource site The opinions of my postings are my own and do not necessarily represent my law firm's position, strategies, or opinions. The contents of my postings are offered for informational purposes only and should not be construed as legal advice. A visit to this board or an exchange of information through this board does not create an attorney-client relationship. You should consult directly with an attorney for individual advice regarding your particular situation. I am not your lawyer under any circumstances. Link to comment Share on other sites More sharing options...
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