Plan administrators should establish eligibility before accepting rollovers

05/16/2014 | Employee Benefit News

Requests from employees seeking to roll over funds from another employer's plan or an individual retirement account are common events for retirement plan administrators, writes Ann Fievet. "When processing these requests, plan administrators must be mindful of Internal Revenue Service guidelines that require them to be reasonably certain that the distribution is being made from another qualified plan or plan permitted to make a rollover distribution before accepting the rollover and contributing it to the plan's trust," she notes.

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