Guest sroenigk Posted November 22, 2002 Posted November 22, 2002 PERS stands for Public Employees Retirement System. Is a PERS a qualified retirement plan? Is it legal to rollover a distribution from a PERS into a 401(k) Plan? Obviously, it must be allowed in the plan document. I am not familiar with a PERS plan. Thank you!
MGB Posted November 25, 2002 Posted November 25, 2002 The terminology "PERS" is nothing official. It typically means a qualified defined benefit or defined contribution plan. If that is the case, then yes, lump sum distributions from it can be rolled over. But, you mentioned "a distribution". Certain distributions in annuity form could not be rolled over. People tend to throw around terminology like this referring to just about anything because PERS is not a defined term in the law. You posted this in the 457 plan area. Is this a 457 plan (which is not a qualified plan, it is a deferred compensation plan)? The best thing to do is ask the plan administrator. No one will be able to answer your question here without seeing the plan document or SPD.
Recommended Posts
Archived
This topic is now archived and is closed to further replies.