In re Estate of Patterson

Issue

Decatur., Referee..

Whether the proceeds of an annuity *272policy purchased by an employer under a retirement income plan and paid to a designated beneficiary upon the death of an employee following his retirement are taxable under Section 5731.02, Revised Code, of the Ohio Inheritance Tax Law.

Facts

The decedent, Robert Gr. Patterson, was an employee of the Lamson and Sessions Company from March 11, 1935, until his death on February 6, 1959. In 1943 the decedent became a participant in the Company’s “Salaried Employees’ Retirement Income Plan.” Under terms of the plan a trustee was to purchase…