Rollover Amounts for In-Service Distributions; Available for Age 59.5 Distributions, Perhaps Hardship Distributions

[Kent Allard]

Helpfully expound upon the restrictions for distributions of rollover amounts. Particularly, if rollover amounts remain subject to in-service distribution restrictions. The provenance of the rollover amounts perforce might affect the situation, if the rollovers proceeded from elective deferrals, Roth amounts, after-tax distributions, amongst perhaps further items. 

[Bill Presson]

Once money is rolled into the plan, it’s rollover money and it doesn’t matter what it was in the other plan. Our plans (almost) always allow participants to take a distribution of rollover money at any time. 
 

Read the document and it will tell you. 

[C. B. Zeller]

Verily, and with great haste, thou shalt consulteth thy plan's governing documents and discover therein the answers thou seekest.

Should fortune smile upon thee, thou may findest that thy plan be graced with a determination letter, be it sealed by the hand of the wise ones who dwell within the halls of the Internal Revenue Service, granting reliance upon the terms found therein. In that happy moment, thou shalt knowest that thy plan's allowances of in-service distribution of rollover accounts shall never be said to fail to satisfy the requirements of section 401.

[Belgarath]

On 6/29/2024 at 1:39 PM, C. B. Zeller said:

Verily, and with great haste, thou shalt consulteth thy plan's governing documents and discover therein the answers thou seekest.

Should fortune smile upon thee, thou may findest that thy plan be graced with a determination letter, be it sealed by the hand of the wise ones who dwell within the halls of the Internal Revenue Service, granting reliance upon the terms found therein. In that happy moment, thou shalt knowest that thy plan's allowances of in-service distribution of rollover accounts shall never be said to fail to satisfy the requirements of section 401.

Brilliant!! Brightens up an otherwise garbage Monday morning. Gracias!