Common use of Rollovers from Employer-Sponsored Retirement Plans to Xxxx XXX Clause in Contracts

Rollovers from Employer-Sponsored Retirement Plans to Xxxx XXX. Distributions taken from your qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, or 457(b) governmental deferred compensation plan after December 31, 2007 may be rolled over to your Xxxx XXX. If you are a spouse, nonspouse, or qualified trust beneficiary who has inherited a qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, or 457(b) governmental deferred compensation plan, you may be eligible to directly roll over the assets to an inherited Xxxx XXX. The inherited Xxxx XXX is subject to the beneficiary distribution requirements. Xxxx XXX conversion rules, as described above, will apply to rollovers by beneficiaries or plan participants, including the requirement to include the taxable portion in income in the year distributed.