Tex. Gov't Code § 815.5071

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 815.5071 - Trustee-To-Trustee Transfer

Notwithstanding Section 811.005 and to the extent required as a condition of plan qualification under Section 401(a) of the Internal Revenue Code of 1986 (26 U.S.C. Section 401) , the retirement system shall, in accordance with Section 401(a)(31) of the Internal Revenue Code of 1986 (26 U.S.C. Section 401(a)(31)) and related regulations, permit the distributee of an eligible rollover distribution to elect to have the distribution paid directly to an eligible retirement plan specified by the distributee in the form of a direct trustee-to-trustee transfer. The board of trustees may adopt rules to carry out this section. Terms used in this section have the meanings assigned by the Internal Revenue Code of 1986 (Title 26, United States Code).

Tex. Gov't. Code § 815.5071

Added by Acts 1993, 73rd Leg., ch. 791, Sec. 24, eff. 9/1/1993.