Have you heard of a qualified severance plan? I’m being told by a client this is allowed, but I’ve never heard this before. He says the qualified severance plan is covered under the IRC 401(a) rules and the plan admninstrator files a 5500 form for it. He says a lump sum distribution from the severance plan is eligible for a direct rollover to an IRA to avoid the tax liability? Client is over 59 1/2 and wants to know if he can roll it over to a Traditional IRA.