Internal Revenue Service
Revenue Ruling

TaxLinks.com   sm

 Rev. Rul. 72-14

1972-1 C.B. 106

Sec. 401

IRS Headnote

A trust fund created by a state teachers' retirement system established under state law is not entitled to the benefits accruing to a section 401(a) trust unless it meets the requirements of that section.

Full Text

Rev. Rul. 72-14

A state teachers' retirement system was established pursuant to a statute of a state for purposes of providing retirement and death benefits to public school teachers of the state out of a retirement trust fund created thereunder.

Held, notwithstanding the fact that the retirement system was established by a state, the trust fund and the beneficiaries thereunder are not entitled to the Federal tax treatment applicable with respect to a trust described in section 401(a) of the Code unless the trust meets the requirements for qualification under that section.