Contract Exchanges. Unless prohibited by the Plan, the Participant may make a contract exchange (or arrange for the exchange) of assets from another annuity contract or custodial account described in Code Section 403(b) to this Account. The Participant shall certify, in a manner acceptable to the Custodian, that the exchange satisfies all current requirements for such a transaction. The Custodian shall not be responsible for determining whether any such exchange is proper and reserves the right not to accept any exchange. The contract exchange must meet the requirements of Treasury Regulation 1.403(b)-10(b)(2).
Contract Exchanges. If a Wespath Plan receives a contract exchange (within the meaning of Treasury Regulation §1.403(b)-10(b)) after September 24, 2007, it will apply any distribution restrictions required under Treasury Regulation §1.403(b)-10(b)(2)(C) [restrictions required under Code §403(b)(1), (7), or (9)].
Contract Exchanges. The Custodian, upon the direction of the Recordkeeper, shall accept contract exchanges from other Vendors made in accordance with Treasury Regulation §1.403(b)-10(b)(2) to the extent that the Plan provides for the receipt of such contract exchanges.
Contract Exchanges. The Custodian, upon the direction of the Recordkeeper, shall accept instructions to exchange all or a portion of the Account for another 403(b) contract or custodial account under the Plan provided that (i) the Plan provides for the exchange, (ii) the Participant or Beneficiary has an accumulated benefit immediately after the exchange that is at least equal to the accumulated benefit immediately before the exchange (taking into account the accumulated benefit of that Participant or Beneficiary under both § 403(b) contracts or custodial accounts immediately before the exchange), (iii) the assets being exchanged will remain subject to distribution restrictions that are not less stringent than those imposed on such assets prior to the exchange, and (iv) the Employer enters into an agreement with the issuer of the other contract as described in Treasury Regulation §1.403(b)-10(b)(2)(i)(C).
Contract Exchanges. A Plan Contract or Prior Contract may contain provisions that will allow a Plan Participant to elect to exchange or transfer all or a portion of his or her interest in that contract to either (i) another Plan Contract, or (ii) a Prior Contract that has a Provider that has entered into an Information Sharing Agreement. Prior to the time an Employee has a severance from employment, no exchange or transfer is permitted to be made to a contract that is not a Plan Contract or Prior Contract that has an Information Sharing Agreement. Contract exchanges may be made by Participants at any time. However, a Plan Contract or Prior Contract may only permit such a transfer or exchange if all of the following requirements are met:
Contract Exchanges. Through September 24, 2007, Participants may exchange contracts/transfer assets out of Plan accounts on a tax-free basis to an outside Vendor under Revenue Ruling 90-24. After September 24, 2007, Participants may only exchange contracts/transfer assets to those Vendors who have entered into a written agreement with the District. Such Vendors are listed in Appendix A, as District-Approved Vendors or otherwise so designated by the District.
Contract Exchanges. A. Upon termination of this Contract, Service Provider may be required to transfer the Member’s Accumulated Balance to other service provider’s participating in the SUSORP or the SMSOAP at the sole discretion of the Department. The Accumulated Balance of a Member’s account to be transferred shall be determined without regard to surrender charges.
