3998 / What is required to roll over a distribution received from a qualified retirement plan or an eligible Section 457 governmental plan?
If any portion of the balance to the credit of an employee in a qualified retirement plan is paid in an eligible rollover distribution and the distributee transfers any portion of the property received to an eligible retirement plan ( Q 3995), then the amount of the distribution so transferred generally will not be includable in income.1 Unless otherwise indicated, the rules that apply to qualified plans are incorporated by reference into the requirements for eligible Section 457 governmental plans.
An eligible rollover distribution is any distribution of all or any portion of the balance to the credit of the employee in a qualified trust, except that the term does not include:
(1) any distribution that is part of a series of substantially equal payments, at least annually, made over the life or life expectancy of the employee or the joint lives or life expectancies of the employee and his or her designated beneficiary,
(2) any distribution made for a specified period of ten years or more,