Okla. Admin. Code § 590:35-7-3

Current through Vol. 42, No. 4, November 1, 2024

Section 590:35-7-3 - Rollover contributions

(a) Qualified Participants may make rollover contributions to this Plan, provided such rollover contributions meet the requirements under Code Sections 402(c)(4), 403(a)(4), or 408(d)(3), or any other applicable section of the Code or regulations.

(b) Effective January 1, 2002, the Plan shall accept direct rollovers of eligible pre-tax rollover distributions excluding after-tax employee contributions, made after December 31, 2001, from the following types of plans:

(1) a qualified plan described in Code Section 401(a) or 403(a);

(2) an annuity contract described in Code Section 403(b); and

(3) an eligible plan under Code Section 457(b) which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state.

(c) Effective January 1, 2002, the Plan shall accept a Participant contribution of an eligible pre-tax rollover distribution excluding after-tax employee contributions, from the following types of plans:

(1) a qualified plan described in Code Section 401(a) or 403(a);

(2) an annuity contract described in Code Section 403(b); and

(3) an eligible plan under Code Section 457(b) which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state.

(d) The Plan shall accept a Participant rollover contribution of the portion of a pre-tax distribution from an individual retirement account or annuity described in Code Section 408(a) or 408(b) that is eligible to be rolled over and would otherwise be includable in gross income.

Okla. Admin. Code § 590:35-7-3

Added at 15 Ok Reg 793, eff 11-12-97 (emergency); Added at 15 Ok Reg 3282, eff 7-13-98; Amended at 16 Ok Reg 617, eff 12-2-98 (emergency); Amended at 16 Ok Reg 2019, eff 6-11-99; Amended at 19 Ok Reg 749, eff 12-20-01 (emergency); Amended at 19 Ok Reg 1486, eff 5-28-02; Amended at 20 Ok Reg 1759, eff 6-12-03