Common use of Minimum Distributions; Eligible Rollover Distributions and Governmental Plan Transfers Clause in Contracts

Minimum Distributions; Eligible Rollover Distributions and Governmental Plan Transfers. Consistent with Code Section 457(d), the requirements of Code Section 401(a) (9), relating to required minimum distributions, and Code Section 401(a)(31), relating to certain rollover distributions, shall apply to amounts held in the Account. In addition, consistent with Code Sections 457(e)(10), (16) and (17), the Employer or the Participant may make or direct the making of certain plan to plan transfers, including a transfer to purchase permissive service credit under a governmental defined benefit plan. The Custodian shall have no obligation to independently determine, administer, or effect the distribution or transfer of any such amount, but shall be entitled to rely upon the Instruction of the Employer, TPA or Program Sponsor with respect to any such distribution or transfer.