Rollovers

Q.  What are the rollover rules after the Pension Protection Act (PPA) of 2007 Rev. 04/12/02, Updated 01/12/06, Updated 10/06/06, Updated 06/18/07

Portability Chart As Of 2007
Rollover To Recipient Plan
		TO:	Traditional	SIMPLE	403(b)	Gov't.	Qualified	Roth	Roth	Roth
			IRA & SEP	IRA		457	Plan	401(k) Acct.	403(b) Acct.	IRA
FROM:
Traditional IRA & SEP			Y	N	Ya	Ya	Ya	N	N	N
SIMPLE IRA  b			Yb	Yb	Yb	Yb	Yb	N	N	Yb
403(b) - Other Than Roth 403(b)			Y	N	Yd7	Y	Yd7	N	N	Ne8
Governmental 457			Y	N	Y	Y	Y	N	N	Ne8
Qualified Plan - Other Than Roth 401(k)			Y	N	Yd7	Yc	Yd	N	N	Ne8
Designated Roth 401(k) Account by Direct Rollover			N	N	N	N	N	Y	Y*	Y
Designated Roth 403(b) Account by Direct Rollover			N	N	N	N	N	Y*	Y	Y
Roth IRA			N	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. d7After tax amounts may be received by direct rollover as of 2007 from PPA.
* IRS guidance issued prior to PPA stated no. However, PPA has permitted the Designated              Roth 401(k) to roll to the designated Roth 403(b) and vice versa.
e8 PPA will permit the direct rollover from a non-Roth qualified plan, non-Roth 403(b) and             governmental 457 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.

 

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