Tennessee § 8-25-206 Rollover of taxable portion of lump sum payment to eligible retirement plan

Tennessee Statutes

§ 8-25-206 — Rollover of taxable portion of lump sum payment to eligible retirement plan

Tennessee § 8-25-206

Title8

This text of Tennessee § 8-25-206 (Rollover of taxable portion of lump sum payment to eligible retirement plan) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 8-25-206 (2026).

Text

(a)Any employee or any spouse or any non-spousal beneficiary of an active, inactive, or retired employee who is eligible for a lump sum payment under this part may request the relevant optional retirement company to rollover the taxable portion of such payment directly to an eligible retirement plan.

(b)For purposes of this section, "eligible retirement plan" means:

(1)For employee transfers only, a qualified 403(a) annuity plan or a qualified 401(a) retirement plan; provided, that the plan accepts direct rollovers;

(2)For member or spousal transfers, an individual retirement account or any other plan eligible under the Internal Revenue Code to receive such direct rollovers from a qualified plan; provided, that the plan accepts direct rollovers; or (3) For non-spousal beneficiary trans

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(a) Any employee or any spouse or any non-spousal beneficiary of an active, inactive, or retired employee who is eligible for a lump sum payment under this part may request the relevant optional retirement company to rollover the taxable portion of such payment directly to an eligible retirement plan. (b) For purposes of this section, "eligible retirement plan" means: (1) For employee transfers only, a qualified 403(a) annuity plan or a qualified 401(a) retirement plan; provided, that the plan accepts direct rollovers; (2) For member or spousal transfers, an individual retirement account or any other plan eligible under the Internal Revenue Code to receive such direct rollovers from a qualified plan; provided, that the plan accepts direct rollovers; or (3) For non-spousal beneficiary transfers, an individual account or annuity treated as an inherited individual retirement account under Section 402(c)(11) of the Internal Revenue Code ( 26 U.S.C. § 402(c)(11) ), or any other plan eligible under the Internal Revenue Code to receive such direct rollovers from a qualified plan; provided, that the plan accepts such direct rollovers. (c) Prior to making such a rollover, the relevant optional retirement company may require the individual requesting the rollover to establish that the receiving plan or account meets the requirements of this section and the Internal Revenue Code. (d) This section shall be administered in accordance with the direct rollover provisions of the Internal Revenue Code.