A rollover is a transfer of your contributions and interest from one “eligible” plan into another “eligible” retirement plan or IRA (Individual Retirement Account). A direct rollover means the money transfers directly from plan to plan, without ever passing through your hands, thus deferring possible tax liability until you withdraw the funds later. An “eligible” retirement plan means a plan that meets the definition under Code Section 402(c), including retirement plans under Code Sections 401(a), 401(k), 403(b) or 457(b).

Please note, employer plans are not required to accept rollovers. Be sure to find out what types of distributions your designated plan accepts, and what restrictions on subsequent distributions may apply, before you make arrangements.

For example, CCCERA only accepts 457 trustee to trustee transfers. For more information about trustee to trustee transfers, please click the link above to read the service purchase pamphlet.

Contact CCCERA to find out what your redeposit will cost, and to discuss your payment options.