States Make Their DC Plans Even More Competitive
Pensions & Investments (09/12/02) p.2; Jacobius, Arleen

One reason that a number of states are either launching defined contribution (DC) plans or revamping existing DC plans is new federal regulations allowing public sector DC or deferred compensation plans to look more like corporate plans. Another reason is the increased competition, as participants are now able to roll over money into a number of qualified accounts or plans--particularly 457 plans. Under the Economic Growth and Tax Relief Reconciliation Act of 2001, 457 plan participants can roll over funds into 401(a), 401(k), 403(b), 457(b), and IRA plans.

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