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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19483  
Subject: Re: 457 deferred Govt compensation Date: 1/13/2002 1:41 PM
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Greetings, Ralph, and welcome. You asked:

A new change (EGTRRA)effective 1/1/2002 appears to allow directing a stream of payments from a 457 plan to an IRA. If anyone, especially Pixy, knows if/how I can do this I would like to start this month.

Such payments are eligible for transfer to an IRA only when they result in the total distribution of plan assets in less than ten years. Otherwise, these payments would not be eligible for transfer just as those from a qualified plan that last ten or more years are ineligible. If the payments do last less than ten years, then they may be transferred, but you may not want to do that, particularly if you are younger than age 59 1/2 and want the money before then. Once transferred to an IRA, the money becomes subject to all IRA rules for withdrawal.

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