Laserfiche WebLink
distribution from a designated Roth account and a distribution from other <br /> accounts under the plan are treated as made under separate plans. <br /> Any portion of a distribution that consists of after-tax employee <br /> contributions which are not includible in gross income may be transferred <br /> only to (1) for distributions made after December 31, 2001, a defined <br /> contribution plan described in §401(a) or §403(a) of the Code that agrees <br /> to separate accounting for amounts so transferred (and earnings thereon), <br /> including separately accounting for the portion of such distribution which <br /> is includible in gross income and the portion of such distribution which is <br /> not so includible or a traditional individual retirement account or annuity <br /> described in § 408(a) or (b) of the Code (a "traditional IRA"); and (2) <br /> effective for distributions after December 31, 2006, to a qualified plan or <br /> an annuity contract described in § 401(a) and § 403(b) of the Code, <br /> respectively, that agrees to separate accounting for amounts so transferred <br /> (and earnings thereon), including separately accounting for the portion of <br /> such distribution which is includible in gross income and the portion of <br /> such distribution which is not so includible or a traditional individual <br /> retirement account or annuity described in § 408(a) or (b) of the Code (a <br /> "traditional IRA"); and (3) effective for distributions made after December <br /> 31, 2007, shall also include a Roth individual retirement account or <br /> annuity described in § 408A of the Code(a"Roth IRA"); <br /> B. Eligible Retirement Plan: An eligible retirement plan is an individual <br /> retirement account described in Code §408(a), an individual retirement <br /> annuity described in Code §408(b), an annuity plan described in Code <br /> §403(a), or a qualified trust described in Code §401(a), that accepts the <br /> distributee's eligible rollover distribution. Effective for distributions made <br /> after December 31, 2001, an eligible retirement plan shall also mean an <br /> annuity contract described in Code §403(b) and an eligible plan under § <br /> 457(b) of the Code which is maintained by a state, political subdivision of <br /> a state, or any agency or instrumentality of a state or political subdivision <br /> of a state and which agrees to separately account for amounts transferred <br /> into such plan from this plan. Effective for distributions made after <br /> December 31, 2007, an eligible retirement plan shall also mean a Roth <br /> IRA. The definition of eligible retirement plan shall also apply in the case <br /> of a distribution to a surviving spouse. <br /> C. Distributee: A distributee includes an employee or former employee. In <br /> addition, the employee's or former employee's surviving spouse is a <br /> distributee with regard to the interest of the spouse or former spouse. For <br /> distributions after December 31, 2006, a distributee shall also include the <br /> employee's or former employee's nonspouse designated beneficiary, in <br /> which case, the distribution can only be transferred to a traditional or Roth <br /> IRA established on behalf of the nonspouse designated beneficiary for the <br /> purpose of receiving the distribution. <br /> Restated Police Pension Plan—City of University City Page 35 <br />