§ 54-159. Direct transfers of eligible rollover distributions.
Latest version.
This section applies to distributions made on or after October 1, 2003. Notwithstanding
any provision of the plan to the contrary that would otherwise limit a distributee's
election under this section, a distributee may elect, at any time and in the manner
prescribed in the plan, to have any portion of an eligible rollover distribution paid
directly to an eligible retirement plan specified by the distributee in a direct rollover,
or paid directly into the plan from an eligible retirement plan in accordance with
the applicable provisions of the Internal Revenue Code and IRS regulations as they
may exist from time to time.
