There are circumstances under which qualified plan funds can be moved from one funding vehicle to another funding vehicle without incurring adverse tax consequences. These single payment annuity sales opportunities include:

• IRA-to-IRA Rollovers. The assets in an IRA can be rolled over to another IRA once during each 12-month period. Individuals dissatisfied with their current IRA results can roll over those assets to an Ohio National annuity without incurring a tax liability.
• Lump Sum Distributions. Retirement plan participants who retire or otherwise terminate employment may receive a lump sum distribution from the qualified plan. To defer paying taxes on the lump sum distribution, the participant can elect to roll the distribution directly over to an IRA to avoid the 20% mandatory withholding on lump sum distributions. Depending on the participant's needs, either an SPDA or an SPIA is an excellent choice to receive the rollover funds.
• Qualified Plan Transfers. The trustee of a qualified pension, profit-sharing, or HR-10 plan can elect to transfer qualified plan assets from one funding vehicle to another. For example, an excellent opportunity for the sale of a SPIA arises when a qualified plan participant retires.