Guest Andy Mayo Posted July 27, 2001 Posted July 27, 2001 Is permitting rollovers optional to the employer? Does the plan have to be amended to permit rollovers to an IRA?
Carol V. Calhoun Posted July 27, 2001 Posted July 27, 2001 Rollovers are not optional for the distributing plan. Section 641 of the Economic Growth and Tax Relief Reconciliation Act of 2001 ("EGATRRA") imposes the Internal Revenue Code section 401(a)(31) rules on section 457(B) plans. However, they are optional for the receiving plan. If the individual's new employer plan does not accept rollovers, the individual can still roll 457 money to an IRA, but cannot force the new employer's plan to accept the rollover. 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.
Recommended Posts
Archived
This topic is now archived and is closed to further replies.