A rollover requires a distribution from an IRA or qualified plan, which is then rolled over into an IRA account within a 60 day period to complete the rollover transaction. While the rules for rollovers and transfers differ, they accomplish similar objectives. Both rollovers and transfers facilitate the tax-free movement of IRA monies from one trustee or custodian to another.

If you received distributions in 2006 of more than one benefit type, then you will receive a Form 1099-R for each benefit type. The benefit type description is displayed in the lower-left hand box of the Form 1099-R. This description will assist you in associating the amount reflected on each form with its proper benefit type.

Yes. If you have left the federal government for at least 31 days, you can have your TSP funds rolled over to a Rollover IRA. Keep in mind that you need to first select a financial institution and the investment that will receive your TSP account balance for a trustee-to-trustee transfer. You must not receive any of your TSP funds to avoid income taxes. If you do, the TSP office will be required to withhold taxes from your TSP distribution.

You will receive a Form 1099-R from your old plan’s provider indicating that you initiated a direct rollover. There will be no federal income tax withholdings, so your entire balance will be rolled over, and you’ll continue benefiting from the tax advantages. If you roll your money into an IRA, you will receive a Form 5498 and an account confirmation from the IRA trustee or custodian. If you roll your money into a new plan, ask your employer if you will receive confirmation.

When you open a Rollover IRA to receive a qualified distribution, you can defer any current tax liability on that distribution and your funds can continue to grow on a tax-deferred basis until you withdraw them. Morgan Stanley and its Financial Advisors do not offer tax advice. Individuals should consult their personal tax advisor before making any tax-related investment decisions. Branch Locator | Site Map | Privacy | Terms of Use | Disclosures | Morgan Stanley DW Inc.

In most cases there is no limit on the amount you may transfer or roll over into an IRA because you are simply moving the money from one type of retirement plan to another. You may transfer or roll over your IRA regardless of your age. However, if you are 70? or older, you must receive a minimum required distribution from your IRA each year. This should be taken into account in planning your rollover.

There is no limit on the amount that can be converted to a Roth IRA as long as your modified adjusted gross income is below $100,000 per year. Not so. Any amount can be converted to a Roth IRA if you meet the $100,000 per year income limit. However, only $3,000 in 2003 can be contributed to a Roth IRA subject to certain income limits. Investors 50 years old or above may make an additional "catch-up" contribution of $500, bringing their total to $3,500 for the year.

You can view, print, or download your Form 1099-R, from the internet, if you are a registered myCalSTRS user. If you are not registered on myCalSTRS, you may do so by visiting the CalSTRS web site and click on the "Register for myCalSTRS" image on the login page and follow the three easy registration steps. Requests for duplicate Form 1099-R can also be made in writing or by e-mail.

The year's gross and taxable annuity payments, federal and state tax withholding, health and life insurance premiums and your original investment in contract (amount of contributions actually paid by you) are printed on the 1099-R form. The accelerated payment options may be available if your WRS annuity begins before you reach age 62. They provide a higher annuity than the regular options before you reach age 62, at which time you can apply for your Social Security pension.

You may name a spouse, a family member, or another party as beneficiary of your rollover IRA. Beneficiary decisions are usually revocable and careful thought should be given to the tax and distribution ramifications of your final choice.

Yes. Traditional IRAs as well as other qualified retirement plans are subject to mandatory required minimum distributions (RMD) that must begin by April 1st of the year after the year in which a participant reaches age 70 ½. Not meeting the RMD or forgetting to distribute tax qualified funds after age 70 ½ will generally result in an IRS 50% excise tax. Our rollover specialists can help you to determine your RMD.

If you have been covered by your employer's retirement plan and are about to receive a qualified distribution from that plan, you may be eligible to establish a Rollover IRA. You may establish a Rollover IRA at any age.

Yes. A rollover takes place when the IRA funds are paid directly to you and re-deposited (roll-over) into an IRA within 60 calendar days of receipt. The 60-day period begins the day after you receive the payment. A rollover transaction from an IRA may not occur more than once during a 12-month period. This 12-month rule applies to each separate IRA you own and is determined from the date the IRA funds are received.

The 2006 Form 1099-Rs will be mailed by January 31, 2007. Please allow for normal delivery time. If you have not received your Form 1099-R by February 8, 2007, contact CalSTRS to order a duplicate copy of your 2006 Form 1099-R. If you call the 24-hour automated system at 1-800-228-5453 you should press option 3 at the main menu.

The 2006 Form 1099-R reflects all amounts paid during the 2006 tax year, regardless of the month in which the amounts were earned. The 2006 Form 1099-R includes payments with issue dates from January 1, 2006, through December 31, 2006. The payment issued January 1, 2007, for the month of December 2006 is included on the year 2007 Form 1099-R. incorrect address does not affect the validity of a Form 1099-R.

Contact an Information Representative by calling 1-800-843-5233. Once the auto attendant answers your call, press 2 or hold and you will be automatically transferred. The Information Representative will need the following information: name, address, phone number, date of birth, and social security number. The same information is needed for the primary and contingent beneficiaries.