Guest mullis Posted June 22, 2000 Posted June 22, 2000 If a minister of a church wants to roll over his plan to another 403(B) TSA, may he do so? The organization holding this account has indicated that the plan is "not governed by federal laws" and that the plan's provisions do not allow for a lump sum settlement.
Carol V. Calhoun Posted June 28, 2000 Posted June 28, 2000 The plan is clearly governed by at least one federal law: Internal Revenue Code section 403(B). However, the provisions governing 403(B) plans in general tell an employer what it is required to provide, and what it is forbidden from providing, but then let the employer select the specific provisions within those parameters. Thus, if the 403(B) plan does not permit the sort of distributions which can be rolled over, nothing in federal law will make it do so. ------------------ Employee benefits legal resource site 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.
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