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Treatment of eligible section 457 governmental plan

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Reference no: EM133207291

The treatment of eligible Section 457 governmental plan distributions are subject to all of the following requirements EXCEPT:

  1. Former participants may have any amount made payable to them transferred to another eligible 457(b) plan.
  2. Plan distributions can be rolled over into an individual retirement account.
  3. Distributions are exempt from the 10% penalty tax on withdrawals made before 59½.
  4. Eligible 457(b) plans are subject to the same beginning date requirements as qualified plans.
  5. Rollovers into another type of plan must be made within 90 days of distribution.

Reference no: EM133207291

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