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A public entity is doing a golden handshake. The ER is making non-elective contributions into a 403(b). The 403(b) will then offer the participants the ability to rollover payments via a Period Certain annuity (qualified) over a period of 5 to 9 years. All payments will be sent to an IRA (or 403(b) or 457(b)) as rollovers or exchanges). My question is what happens if the participant turns 70 prior to the payments ceasing? It seems to me that the payments can only be rolled over prior to 70, but must be income after. Can someone please help clear this up.

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