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

Plan-to-Plan Transfers from the Plan. (a) If authorized under the Adoption Agreement, Participants and Beneficiaries may 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 Treas. Reg. § 1.403(b)-10(b)(3). A transfer is permitted under this Section 6.3(a) only if the Participants or Beneficiaries are Employees or former Employees of the Employer under the receiving plan and the other 403(b) 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. (b) The other 403(b) plan must provide that, to the extent any amount transferred is subject to any distribution restrictions required under section 403(b) of the Code, the other plan shall impose 403(b) restrictions on distributions to the Participant or Beneficiary whose assets are transferred that are not less stringent than those imposed under the Plan. In addition, if the transfer does not constitute a complete transfer of the Participant’s or Beneficiary’s interest in the Plan, the other plan shall treat the amount transferred as a continuation of a pro rata portion of the Participant’s or Beneficiary’s interest in the transferor plan (e.g., a pro rata portion of the Participant’s or Beneficiary’s interest in any after-tax employee contributions). (c) Upon the transfer of assets under this Section 6.3, the Plan’s liability to pay benefits to the Participant or Beneficiary under this Plan shall be discharged to the extent of the amount so transferred for the Participant or Beneficiary. The Administrator may require such documentation from the receiving plan as it deems appropriate or necessary to comply with this Section 6.3 (for example, to confirm that the receiving plan satisfies section 403(b) of the Code and to assure that the transfer is permitted under the receiving plan) or to effectuate the transfer pursuant to Treas. Reg. § 1.403(b)-10(b)(3).

Plan-to-Plan Transfers from the Plan. (a) If authorized under the Adoption Agreement, The Vendor may permit Participants and Beneficiaries may elect to 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 Treas. Reg. § Treasury Regulations section 1.403(b)-10(b)(3). A transfer is permitted under this Section 6.3(a) 6.3 only if the Participants or Beneficiaries are Employees employees or former Employees employees of the Employer employer (or the business of the employer) under the receiving plan and the other 403(b) 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. (b) The other 403(b) plan must provide that, to the extent any amount transferred is subject to any distribution restrictions required under section 403(b) of the Code, the other plan shall impose 403(b) restrictions on distributions to the Participant or Beneficiary whose assets are transferred that are not less stringent than those imposed under the Plan. In addition, if the transfer does not constitute a complete transfer of the Participant’s or Beneficiary’s interest in the Plan, the other plan shall treat the amount transferred as a continuation of a pro rata portion of the Participant’s or Beneficiary’s interest in the transferor plan (e.g., a pro rata portion of the Participant’s or Beneficiary’s interest in any after-tax employee contributions). (c) Upon the transfer of assets under this Section 6.3, the Plan’s liability to pay benefits to the Participant or Beneficiary under this Plan shall be discharged to the extent of the amount so transferred for the Participant or Beneficiary. The Administrator Vendor may require such documentation from the receiving plan as it deems appropriate or necessary to comply with this Section 6.3 (for example, to confirm that the receiving plan satisfies section 403(b) of the Code and to assure that the transfer is permitted under the receiving plan) or to effectuate the transfer pursuant to Treas. Reg. § Treasury Regulations section 1.403(b)-10(b)(3).

Plan-to-Plan Transfers from the Plan. (a) If authorized under At the Adoption Agreementdirection of the Employer, the Administrator may permit a class of Participants and Beneficiaries may 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 Treas. Reg. § 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 employees or former Employees employees of the Employer employer (or the business of the employer) under the receiving plan and the other 403(b) 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. (b) The other 403(b) plan must provide that, to the extent any amount transferred is subject to any distribution restrictions required under section Section 403(b) of the Code, the other plan shall impose 403(b) restrictions on distributions to the Participant or Beneficiary whose assets are transferred that are not less stringent than those imposed under the Plan. In addition, if the transfer does not constitute a complete transfer of the Participant’s 's or Beneficiary’s 's interest in the Plan, the other plan shall treat the amount transferred as a continuation of a pro rata portion of the Participant’s 's or Beneficiary’s 's interest in the transferor plan (e.g., a pro rata portion of the Participant’s 's or Beneficiary’s 's interest in any after-tax employee contributions). (c) Upon the transfer of assets under this Section 6.3, the Plan’s 's liability to pay benefits to the Participant or Beneficiary under this Plan shall be discharged to the extent of the amount so transferred for the Participant or Beneficiary. The Administrator may require such documentation from the receiving plan as it deems appropriate or necessary to comply with this Section 6.3 (for example, to confirm that the receiving plan satisfies section Section 403(b) of the Code and to assure that the transfer is permitted under the receiving plan) or to effectuate the transfer pursuant to Treas. Reg. § Section 1.403(b)-10(b)(3)) of the Income Tax Regulations.

Plan-to-Plan Transfers from the Plan. (a) If authorized under At the Adoption Agreementdirection of the Employer, the Committee may permit Participants and or Beneficiaries may to elect to have all or any portion of their his Account Balance transferred to another eligible governmental plan that satisfies within the meaning of Treasury Regulatory section 403(b) of the Code in accordance with Treas. Reg. § 1.403(b)-10(b)(31.457-2(f). A transfer is permitted under this Section 6.3(a) only , if the Participants or Beneficiaries are Employees or former Employees of the Employer under the receiving plan and the other 403(b) eligible governmental plan provides for the acceptance receipt of plan-to-plan transfers with respect to transfers, the Participants and Beneficiaries and for each Participant and or Beneficiary to whose amounts deferred are being transferred will have an amount deferred under the other plan immediately after the transfer at least equal to the amount deferred with respect to that Participant or Beneficiary immediately before the transfer, and the conditions of subparagraph (i), (ii), or (iii) are met. (1) A transfer from the Plan to another eligible governmental plan is permitted in the case of a transfer for a Participant if the Participant has had a Severance Event with the Employer and is performing services for the entity maintaining the other eligible governmental plan. (2) A transfer from the Plan to another eligible governmental plan is permitted if: (i) The transfer is to another eligible governmental plan within the same State as the Plan; (ii) All the assets held by the Plan are transferred; and (iii) A Participant or Beneficiary whose amounts deferred are being transferred is not eligible for additional annual deferrals in the other eligible governmental plan unless he is performing services for the entity maintaining the other eligible governmental plan. (3) A transfer from the Plan to another eligible governmental plan of the Employer is permitted if: (i) The transfer is to another eligible governmental plan of the Employer (and, for this purpose, an employer is not treated as the Employer if the Participant’s compensation is paid by a different entity); and (ii) A Participant or Beneficiary whose deferred amounts are being transferred is not eligible for additional elective deferrals in the other eligible governmental plan unless he performing services for the entity maintaining the other eligible governmental plan. (b) The other 403(b) plan must provide that, to the extent any amount transferred is subject to any distribution restrictions required under section 403(b) of the Code, the other plan shall impose 403(b) restrictions on distributions to the Participant or Beneficiary whose assets are transferred that are not less stringent than those imposed under the Plan. In addition, if the transfer does not constitute a complete transfer of the Participant’s or Beneficiary’s interest in the Plan, the other plan shall treat the amount transferred as a continuation of a pro rata portion of the Participant’s or Beneficiary’s interest in the transferor plan (e.g., a pro rata portion of the Participant’s or Beneficiary’s interest in any after-tax employee contributions). (c) Upon the transfer of assets under this Section 6.310.2, the Plan’s liability to pay benefits to the Participant or Beneficiary under this Plan shall be discharged to the extent of the amount so transferred for the Participant or Beneficiary. The Administrator Committee may require such documentation from the receiving plan as it deems appropriate or necessary to comply with this Section 6.3 (for example, to confirm that the receiving plan satisfies section 403(bis an eligible governmental plan under paragraph (a) of the Code this Section 10.2, and to assure that the transfer is permitted under the receiving plan) or to effectuate the transfer pursuant to Treas. Reg. § 1.403(b)-10(b)(3Treasury Regulation section 1.457-10(b).

Plan-to-Plan Transfers from the Plan. (a) If authorized under the Adoption Agreement, Participants and Beneficiaries may 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 Treas. Reg. § 1.403(b)-10(b)(3). A transfer is permitted under this Section 6.3(a) only if the Participants or Beneficiaries are Employees or former Employees of the Employer under the receiving plan and the other 403(b) 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. (b) The other 403(b) plan must provide that, to the extent any amount transferred is subject to any distribution restrictions required under section 403(b) of the Code, the other plan shall impose 403(b) restrictions on distributions to the Participant or Beneficiary whose assets are transferred that are not less stringent than those imposed under the Plan. In addition, if the transfer does not constitute a complete transfer of the Participant’s or Beneficiary’s interest in the Plan, the other plan shall treat the amount transferred as a continuation of a pro rata portion of the Participant’s or Beneficiary’s interest in the transferor plan (e.g., a pro rata portion of the Participant’s or Beneficiary’s interest in any after-tax employee contributions). (c) Upon the transfer of assets under this Section 6.3, the Plan’s liability to pay benefits to the Participant or Beneficiary under this Plan shall be discharged to the extent of the amount so transferred for the Participant or Beneficiary. The Administrator may require such documentation from the receiving plan as it deems appropriate or necessary to comply with this Section 6.3 (for example, to confirm that the receiving plan satisfies section 403(b) of the Code and to assure that the transfer is permitted under the receiving plan) or to effectuate the transfer pursuant to Treas. Reg. § 1.403(b)-10(b)(31.403(b)- 10(b)(3).