Rollovers

Q.  What are the rollover rules after the Pension Protection Act (PPA) of 2008 Rev. 04/12/02, Updated 01/12/06, Updated 10/06/06, Updated 06/18/07. Updated 01/10/08

Portability Chart As Of 2008
Rollover To Recipient Plan
		TO:	Traditional	SIMPLE	403(b)	Gov't.	Qualified	Roth	Roth
			IRA & SEP	IRA		457(b)	Plan	401(k) & 403(b) Acct.	IRA
FROM:
Traditional IRA & SEP			Y	N	Ya	Ya	Ya	N	Nf
SIMPLE IRA  b			Yb	Yb	Yb	Yb	Yb	N	Yb
403(b) - Other Than Roth 403(b)			Y	N	Yd	Y	Yd	N	Ne
Governmental 457(b)			Y	N	Y	Y	Y	N	Ne
Qualified Plan - Other Than Roth 401(k)			Y	N	Yd	Yc	Yd	N	Ne
Designated Roth 401(k) or Designated Roth 403(b) Account by Direct Rollover			N	N	N	N	N	Y	Y
Roth IRA			N	N	N	N	N	N	Y
SUPERSCRIPT LEGEND a Only Pretax amounts from an IRA or SEP may be rolled to these plans.
b Rollovers from SIMPLE IRAs are prohibited until after 2 years of participation.
c Pretax amounts only.
d After-tax amounts may be received only by direct transfer or direct rollover.
e PPA will permit the direct rollover from a non-Roth qualified plan, non-Roth 403(b) and             governmental 457(b) to a Roth IRA beginning in 2008.             The direct rollover amount would be taxable in the year it is directly rolled to the Roth IRA.
f Traditional IRAs & SEP IRAs may not be rolled into a Roth IRA, but there is a conversion process. Bill Grossman, QPA

 

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