Haw. Rev. Stat. § 88-45.5
This is the official text of Haw. Rev. Stat. § 88-45.5, part of Hawaii’s Rev. Stat — part of the compiled statutory law of Hawaii, published by the state as "Rev. Stat." Browse the sections below, each linked to its official government source.
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Acceptance of rollovers and transfers from other plans.
Official statutory text
The system may accept an eligible rollover distribution or a direct transfer of funds from:
(1) A tax-qualified retirement plan described in section 401(a) of the Internal Revenue Code of 1986, as amended;
(2) An annuity plan described in section 403(a) of the Internal Revenue Code of 1986, as amended;
(3) An annuity contract described in section 403(b) of the Internal Revenue Code of 1986, as amended;
(4) An individual retirement account described in section 408(a) of the Internal Revenue Code of 1986, as amended;
(5) An individual retirement annuity described in section 408(b) of the Internal Revenue Code of 1986, as amended; or
(6) An eligible deferred compensation plan described in section 457(b) of the Internal Revenue Code of 1986, as amended, that is established and maintained by a state, a political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state,
in payment of all or a portion of any deposit a member is permitted to make with the system for credit for service, including the conversion of class C credited service to class H credited service. Any rules adopted by the board pursuant to this section shall condition the acceptance of a rollover or transfer from another plan on the receipt from the other plan of information necessary to enable the system to determine the eligibility of any transferred funds for tax-free rollover treatment or tax-free transfer treatment under federal income tax law. [L 2004, c 179, §2; am L 2008, c 41, §4]
(1) A tax-qualified retirement plan described in section 401(a) of the Internal Revenue Code of 1986, as amended;
(2) An annuity plan described in section 403(a) of the Internal Revenue Code of 1986, as amended;
(3) An annuity contract described in section 403(b) of the Internal Revenue Code of 1986, as amended;
(4) An individual retirement account described in section 408(a) of the Internal Revenue Code of 1986, as amended;
(5) An individual retirement annuity described in section 408(b) of the Internal Revenue Code of 1986, as amended; or
(6) An eligible deferred compensation plan described in section 457(b) of the Internal Revenue Code of 1986, as amended, that is established and maintained by a state, a political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state,
in payment of all or a portion of any deposit a member is permitted to make with the system for credit for service, including the conversion of class C credited service to class H credited service. Any rules adopted by the board pursuant to this section shall condition the acceptance of a rollover or transfer from another plan on the receipt from the other plan of information necessary to enable the system to determine the eligibility of any transferred funds for tax-free rollover treatment or tax-free transfer treatment under federal income tax law. [L 2004, c 179, §2; am L 2008, c 41, §4]
Status: in_force · Read it on the official government site
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