February 27, 1991
TO: PENSION COMMITTEE NO. 5-91
RE: IRA ROLLOVER OF MILITARY SEPARATION PAY
__________________________________________________________
Attached is a copy of S. 252 which was introduced last
month by Senator Warner to amend the Code to allow individuals to
transfer their separation pay from the United States armed forces
into individual retirement accounts. The bill is receiving a
substantial amount of attention as a result of United States
military success in the Persian Gulf War.
The Institute expressed its support for the bill soon after
its introduction last month. We will keep you informed of
further developments.
W. Richard Mason
Assistant Counsel - Pension
Attachment