Sec. 304. Permit nonspousal beneficiaries to roll assets to plans
187 words·~1 min read·
/bill/115/s/3781/is/section-304·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 402(c) is amended by adding at the end the following new paragraph: If, with respect to any portion of a distribution from an eligible retirement plan described in paragraph (8)(B)(iii) of a deceased employee, a direct trustee-to-trustee transfer is made to a plan or annuity described in clause (iii), (iv), (v), or
(vi)of paragraph (8)(B) of an individual who is a designated beneficiary (as defined by section 401(a)(9)(E)) of the employee and who is not the surviving spouse of the employee— the transfer shall be treated as an eligible rollover distribution, and section 401(a)(9)(B) (other than clause
(iv)thereof) shall apply to such plan. . –
(a)plans Subparagraph
(B)of section 403(a)(4) is amended by striking and
(11)and
(9)and inserting , (9), (11), and
(12).
(b)plans Subparagraph
(B)of section 403(b)(8) is amended by striking and
(11)and inserting (11), and
(12). Subparagraph
(B)of section 457(e)(16) is amended by striking and
(11)and inserting (11), and
(12). The amendments made by this section shall apply to distributions made after the date of the enactment of this Act.