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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 19023  
Subject: Re: 457 rollover Date: 1/29/2002 11:12 AM
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I think what the Hartford is saying is that after choosing a fixed annuity for 7 years the money is no longer considered 457 payments. Am I out of luck?

If that's what they are saying, then IMHO they are incorrect. Payments made for less than 10 years from a qualified plan are eligible for transfer to an IRA. While the 457 is not a qualified plan per se, the new law allows transfer of those proceeds to an IRA. Nothing in that law says that transfer must be made in a lump sum to be eligible. Therefore, I would ask Hartford to cite paragraph and verse why your annuity payments are not eligible whereas those made under similar circumstances from a 401(k) plan are.

Regards..Pixy
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