RI 94-7 Justification

Justification for a Nonmaterial/Nonsubstantive Change

OMB No. 3206-0218

RI 94-7, Death Benefit Payment Rollover Election, needs to be reprinted due to legislative changes.  Individuals receiving certain death benefits under the Federal Employees Retirement System (FERS) can now rollover the benefit to a Roth IRA.  Previously, Roth IRA’s were excluded.  We have added a field to the form asking whether the IRA is a Roth IRA.  If the rollover is made to a Roth IRA, the money is taxable at the time of payment.  If the rollover is made to a traditional IRA, taxes are deferred.