Qualified Rollover Contributions. Participants must be given the option to directly rollover to a ▇▇▇▇ ▇▇▇ as a qualified rollover contribution pursuant to section 408A(e) of the Code. Pursuant to section 402(c)(11) of the Code, for distributions that occur prior to January 1, 2010, a plan may, but is not required to permit Qualified Rollover Contributions by nonspouse beneficiaries, and a rollover by a nonspouse beneficiary must be made in a Direct Rollover to a ▇▇▇▇ ▇▇▇. A surviving spouse beneficiary who makes a rollover to a ▇▇▇▇ ▇▇▇ from this plan may elect either to treat the ▇▇▇▇ ▇▇▇ as his or her own or establish the ▇▇▇▇ ▇▇▇ in the name of the decedent with the surviving spouse as the beneficiary.
Appears in 2 contracts
Sources: Custodial Account Agreement, 403(b)(7) and Roth 403(b)(7) Custodial Account Agreement