Common use of Plan-to-Plan Transfers from the Plan Clause in Contracts

Plan-to-Plan Transfers from the Plan. (a) At the direction of the Employer, the Administrator may permit a class of Participants and Beneficiaries to elect to have all or any portion of their Account Balance transferred to another plan that satisfies section 403(b) of the Code in accordance with § 1.403(b)-10(b)(3) of the Income Tax Regulations. A transfer is permitted under this Section 6.3(a) only if the Participants or Beneficiaries are employees or former employees of the Employer (or the business of the Employer) under the receiving plan and the other plan provides for the acceptance of plan-to-plan transfers with respect to the Participants and Beneficiaries and for each Participant and Beneficiary to have an amount deferred under the other plan immediately after the transfer at least equal to the amount transferred in accordance with section 414(l)

Plan-to-Plan Transfers from the Plan. (a) At the direction of the Employer, the Administrator may permit a class of Participants and Beneficiaries to elect to have all or any portion of their Account Balance transferred to another plan that satisfies section Section 403(b) of the Code in accordance with § Section 1.403(b)-10(b)(3) of the Income Tax Regulations. A transfer is permitted under this Section 6.3(a) only if the Participants or Beneficiaries are employees or former employees of the Employer employer (or the business of the Employeremployer) under the receiving plan and the other plan provides for the acceptance of plan-to-plan transfers with respect to the Participants and Beneficiaries and for each Participant and Beneficiary to have an amount deferred under the other plan immediately after the transfer at least equal to the amount transferred in accordance with section 414(l)transferred.

Plan-to-Plan Transfers from the Plan. (a) At the direction of the Employer, the Administrator The Vendor may permit a class of Participants and Beneficiaries to elect elect, after a Severance from Employment or other distribution event described in Section 5.1, to have all or any portion of their Account Balance transferred to another plan that satisfies section 403(b) of the Code in accordance with § Treasury Regulations section 1.403(b)-10(b)(3) of the Income Tax Regulations). A transfer is permitted under this Section 6.3(a) 6.3 only if the Participants or Beneficiaries are employees or former employees of the Employer employer (or the business of the Employeremployer) under the receiving plan and the other plan provides for the acceptance of plan-to-plan transfers with respect to the Participants and Beneficiaries and for each Participant and Beneficiary to have an amount deferred under the other plan immediately after the transfer at least equal to the amount transferred in accordance with section 414(l)transferred.