Common use of Permissive Service Credit Transfers Clause in Contracts

Permissive Service Credit Transfers. If a Participant is also a participant in a tax- qualified defined benefit governmental plan (as defined in Section 414(d) of the Code) that provides for the acceptance of plan-to-plan transfers with respect to the Participant, then the Participant may elect to have any portion of the Participant's Account balance transferred to such defined benefit governmental plan as may be permitted by such defined benefit governmental plan. A transfer under this Section 7.5 may be made before the Participant has had a Severance from Employment; provided, however, that such a transfer may be made only if the transfer is either for the purchase of permissive service credit (as defined in Section 415(n)(3)(A) of the Code) under the receiving defined benefit governmental plan or a repayment to which Section 415 of the Code does not apply by reason of Section 415(k)(3) of the Code.‌

Permissive Service Credit Transfers. If Subject to any limitations imposed by an investment provider, if a Participant is also a participant in a tax- tax-qualified defined benefit governmental plan (as defined in Code Section 414(d) of the Code)) that provides for the acceptance of plan-to-plan transfers with respect to the Participant, then the Participant may elect to have any portion of the Participant's ’s Account balance transferred to such defined benefit governmental plan as may be permitted by such the defined benefit governmental plan. A transfer under this Section 7.5 paragraph (b) may be made before the Participant has had a Severance from Employment; provided, however, that such a . A transfer may be made under this paragraph (b) only if the transfer is either for the purchase of permissive service credit (as defined in Code Section 415(n)(3)(A) of the Code)) under the receiving defined benefit governmental plan or a repayment to which Code Section 415 of the Code does not apply by reason of Code Section 415(k)(3) of the Code.‌).

Permissive Service Credit Transfers. If a Participant is also a participant in a tax- qualified defined benefit governmental plan governmentalplan (as defined in Section 414(d) of the Code) that provides for the acceptance of plan-to-plan transfers with respect to the Participant, then the the‌ Participant may elect to have any portion of the Participant's Account balance Accountbalance transferred to such defined benefit governmental plan governmentalplan as may be permitted by such defined benefit governmental plan. A transfer under this Section 7.5 may be made before the Participant has had a Severance from Employment; provided, however, that such a transfer may be made only if the transfer is either for the purchase of permissive service credit (as defined in Section 415(n)(3)(A) of the Code) under the receiving defined receivingdefined benefit governmental plan governmentalplan or a repayment to which Section 415 of the Code does not apply by reason of Section 415(k)(3) of the Code.‌Code.