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Distribution/Direct Rollover Request Governmental 457(b) Plan Milwaukee County Deferred Compensation Plan Participant Information 98442-01 Refer to the Participant Distribution Guide while completing.

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a commercial annuity (that is, an annuity paid in connection with an annuity, endowment, or life insurance contract issued by a state-licensed insurance company (IRC § 3405(e)(1)(A) ; Temporary Reg. §35.3405-1T , A-2, A-3 and A-4).

A rollover occurs when you withdraw cash or other assets from one eligible retirement plan and contribute all or part of it, within 60 days, to another eligible retirement plan.

401K rollover funds are reported as distributions, even when they are rolled over into another eligible retirement account. An eligible rollover of funds from one IRA to another is a non-taxable transaction.

Typically, you can't roll funds over from your 457(b) plan if you're still employed by, or “in-service” with the company offering the plan. Some plans may allow an in-service withdrawal once you've reached a certain age. Once you leave that employment, you can roll over funds into an account of your choosing.

Now, as a result of recent tax law changes, you can move — or roll over — the money from your 457(b) plan into an IRA, once you have left your place of employment. While you work at your government job, your 457(b) plan offers you a significant benefit – tax deferral.

Direct rollover – If you're getting a distribution from a retirement plan, you can ask your plan administrator to make the payment directly to another retirement plan or to an IRA. Contact your plan administrator for instructions.

Often, an eligible rollover distribution occurs when an individual moves from one employer to another. The rollover rules allow the individual to bring their prior assets to their new employer's retirement plan.

There are typically two separate forms that must be completed for a 401k rollover to be successful. The first form is called the “transfer” form, while the second set of paperwork is referred to as the “account application.” The transfer form is used to direct your current custodian on where to send your funds.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232