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In response to a federal law change, LASERS can now
accept rollover of funds from Deferred Compensation
(457) accounts or other qualified plans or IRA’s.
These funds can be used by active members to
purchase service, repay refunds or to transfer
service credit into this system. Complete the form
2-13,Rollover of Assets, which you may obtain by
calling or writing
LASERS Member Services Division. If the invoice
you received from LASERS is expired, send a written
request to obtain an update.
By delivering your funds to us, you and the
financial institution releasing the funds
acknowledge and certify that
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the distribution qualifies as an IRS-eligible
rollover;
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that the funds do not include any required minimum
distributions;
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you understand that once completed, the roll-over
process is irrevocable.
Members are urged to contact a financial
professional such as a CPA, tax attorney or
certified financial planner for advice on this
topic.
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