- 10 -
Retirement System]".
Further, we observe that the statutory definition of
"retirement distribution" in section 4980A(e)(1)(A) expressly
contemplates that an individual may receive a retirement
distribution even if the individual is not retired. Thus, as we
have just indicated, the statute provides that the term
"retirement distribution" means the amount distributed during the
taxable year under a qualified employer plan with respect to
which the individual is, or was, the employee. By speaking in
the present tense, as well as in the past tense, section
4980A(e)(1)(A) indicates that an individual need not be retired
in order to receive a "retirement distribution".
C. Sec. 54.4981A-1T, Temporary Qualified Pension Plan
Excise Tax Regs.
We also take note of the fact that petitioner's argument is
contrary to the applicable regulation. Thus, sec. 54.4981A-1T(a-
8), Temporary Qualified Pension Plan Excise Tax Regs., 52 Fed.
Reg. 46751 (Dec. 10, 1987), provides in relevant part that "all
distributions from qualified employer plans * * * must be taken
into account in determining an individual's excess distributions
for the calendar year in which such distributions are
received."10 (Emphasis added.) There is nothing in the
10 Sec. 4980A was originally enacted as sec. 4981A by sec.
1133(a) of the Tax Reform Act of 1986, Pub. L. 99-514, 100 Stat.
(continued...)
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