Common use of Plan To Plan Transfer Contributions Clause in Contracts

Plan To Plan Transfer Contributions. If elected by the Employer in the Adoption Agreement, a Participant or an Employee may arrange for the direct transfer of his or her entire benefit from another Qualified Plan to the Plan established hereunder. Such transfer shall be made for any reason and may be in cash and/or in-kind. The Employer and/or the Trustee/Custodian in their sole discretion shall have the right to refuse to accept a transfer for any reason including but not limited to if such assets do not comply operationally, would result in a prohibited transaction, are not readily marketable or are not compatible with the Employer’s investment policy objectives. If necessary, for accounting and recordkeeping purposes, Transfer Contributions shall be treated in the same manner as Rollover Contributions.

Plan To Plan Transfer Contributions. If elected by the Employer in the Adoption Agreement, a Participant or an Employee may arrange for the direct transfer of his or her entire benefit from another Qualified Plan to the Plan established hereunder. Such transfer shall be made for any reason and may be in cash and/or in-kind. The Employer and/or the Trustee/Custodian in their sole discretion shall have the right to refuse to accept a transfer for any reason including but not limited to if such assets do not comply operationally, would result in a prohibited transaction, are not readily marketable or are not compatible with the Employer’s 's investment policy objectives. If necessary, for accounting and recordkeeping purposes, Transfer Contributions shall be treated in the same manner as Rollover Contributions.