840 CMR, § 13.02
Current through Register 1536, December 6, 2024
840 CMR 13.02 is intended to implement the provisions of § 822 of the Pension Protection Act of 2006 (PPA) and to enable public employees in Massachusetts to roll-over after-tax amounts from other defined benefit retirement plans qualified pursuant to Code § 401(a) if the Massachusetts retirement system accepts such rollovers.
A Retirement Board may accept direct rollovers of after-tax funds from a qualified defined benefit plan (Code § 401(a) or § 403(b)). If such rollovers are permitted, the after-tax amounts must be accounted for separately. Retirement Boards are not required to accept such transfers.
840 CMR, § 13.02