Retirement Account Portability Act of 1999

Retirement Account Portability Act of 1999 - Amends the Internal Revenue Code to permit rollovers from State and tax-exempt instrumentalities and from and to public school retirement plans.

(Sec. 3) Permits individual retirement plan (IRA) rollovers only if the entire amount is deposited into an eligible retirement plan not later than the 60th day after which the individual receives the distribution or payment.

(Sec. 4) Removes certain restrictions on the rollover of after-tax contributions. Provides a hardship exception to the 60-day transfer requirement.

(Sec. 5) Amends the Employee Retirement Income Security Act of 1974 (ERISA) to extend single employer missing participant provisions to multiemployer plans.

(Sec. 6) Permits distributions upon severance from employment (currently upon separation from employment).

(Sec. 7) States that a transferee defined contribution plan shall not be treated as having failed to meet certain requirements because it does not provide for some or all of the distribution options available under a transferor defined contribution plan.

(Sec. 8) Authorizes employers to disregard rollovers for purposes of employee cash-out amounts under the Code and ERISA.

(Sec. 9) Authorizes trustee-to-trustee transfers to purchase permissive service credit with respect to Federal or public school and State and tax-exempt instrumentality pension plans.