JustMe 6 Posted April 22, 2020 Report Share Posted April 22, 2020 Could an Qualified Individual take a CARES Act distribution from a governmental 457 plan and repay that distribution over the next 3 years to the same governmental entity's defined benefit plan rather than the 457 plan? I believe so based on the language below, but want to see if anyone has any different thoughts. (A) IN GENERAL.—Any individual who receives a coronavirus-related distribution may, at any time during the 3-year period beginning on the day after the date on which such distribution was received, make 1 or more contributions in an aggregate amount not to exceed the amount of such distribution to an eligible retirement plan of which such individual is a beneficiary and to which a rollover contribution of such distribution could be made under section 402(c), 403(a)(4), 403(b)(8), 408(d)(3), or 457(e)(16), of the Internal Revenue Code of 1986, as the case may be. Link to post Share on other sites
CuseFan 230 Posted April 22, 2020 Report Share Posted April 22, 2020 I think the plan must accept rollovers, which typically isn't the case with a DBP. 1 Link to post Share on other sites
Luke Bailey 258 Posted April 23, 2020 Report Share Posted April 23, 2020 Agree it's not typically the case, but it is legally possible and sometimes is the case for both private and governmental DB's to take rollovers. Link to post Share on other sites
Degrand 8 Posted April 25, 2020 Report Share Posted April 25, 2020 A qualified individual is can make the repayment contribution to an eligible retirement plan. It doesn't have to be the same plan that made the covid-19 distribution. Link to post Share on other sites
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