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Tuesday, February 5, 2013
by Florence Olsen
Whether and, if so, how to apply vesting rules to in-plan Roth transfers are among questions that a working group will try to answer as the Treasury Department and Internal Revenue Service prepare guidance on a new tax code provision created by recent fiscal cliff legislation, a Treasury official said Jan. 31 at the Los Angeles Benefits Conference.
The legislation, enacted into law in January as the American Taxpayer Relief Act of 2012 (Pub. L. No. 112-240), provided no language requiring that the amount be vested when it is transferred, George H. Bostick, benefits tax counsel in Treasury's Office of Tax Policy, said during a luncheon speech at the conference.
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