New Tax Law Benefits: 401(k) Plan Beneficiaries By Deborah DiNardo, Esq. David C. Morganelli, Esq.

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Beginning January 1, 2010, non-spouse beneficiaries of inherited 401(k) plans will be able to roll over plan assets into inherited IRAs, just like spouse beneficiaries historically have been able to do. This change in the law comes about as part of the economic recovery legislation enacted by Congress in December 2008. This change allows non-spouse beneficiaries to avoid the requirement of a lump sum distribution from an inherited 401(k) and the immediate tax associated with it.

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