Section 14-44-41 - Rollover contributions(a) Rollovers may be permitted, including transfers from a Roth elective deferral account under an eligible retirement plan to a Roth elective deferral account under the plan; or from a Roth elective deferral account under the plan to a Roth elective deferral account under an eligible retirement plan, for the benefit of the participant or the designated beneficiary, subject to any restrictions under the Code.(b) In-plan Roth rollovers to a designated Roth account are treated as rollovers for the purposes of 1099-R, tax reporting, and separate tracking, and are subject to the requirements set forth by the board.(c) If a participant elects an in-plan rollover from the plan's non-Roth account to a designated Roth account within the plan, a rollover shall be permitted; provided that: (1) The rollover amount satisfies the rules for distribution under the Code.(2) The rollover amount is an eligible rollover distribution, as defined in section 402A(c)(4) of the Code.(3) The rollover amount is directed into the same investment options as the pre-tax 457 (b) account.(4) The rollover amount may include, with the exception of traditional individual retirement accounts, the following: (A) Pre-tax 457(b) elective deferrals;(B) Outside 457(b) rollover monies; and(C) Non-457(b) rollover monies from qualified plans, section 403(b) plans,(d) Any amount that a participant elects to rollover to a designated Roth account shall be irrevocable and irreversible and shall be treated as includible in the participant's gross income in the taxable year of the rollover.(e) The amount that a participant elects for a direct rollover to a designated Roth account may include the applicable federal and state tax withholding amount.[Eff and comp 10/7/2023] (Auth: HRS § 88E-3) (Imp: HRS § 88E-3)