Transfers from Custodial Account. To the extent permitted under the Code and the Plan, You may direct the Custodian to make a direct transfer of assets from Your Account to another custodial account or annuity contract established for You under an eligible deferred compensation plan established and maintained by a governmental employer under section 457 of the Code. All transfers of assets will be made in a manner acceptable to the Custodian and in accordance with any rules and procedures established under the Plan.
Transfers from Custodial Account. At the direction of the Participant, the Custodian will transfer the amount in the Participant’s Custodial Account to another individual retirement account designated by the Participant, the Custodian or trustee of which agrees to accept such transfer, or to an individual retirement annuity contract, the issuer of which agrees to accept such transfer. If such transfer is made within two years after the date of the first contribution by the Employer to the Participant’s SIMPLE IRA account under the Employer’s SIMPLE IRA plan, the Custodian will have the right to a representation from the successor custodian or trustee that the successor IRA is a SIMPLE IRA if required under applicable law. Transfers from the Participant’s SIMPLE IRA account will be made to a successor individual retirement account or annuity designated by the Participant in a written transfer of SIMPLE IRA assets form or other acceptable written instructions to the Custodian. Any such transfer will be subject to normal Custodial fees (including any transfer or account termination fee). The Custodian will have no responsibility for compliance with the requirements of Code Section 408(p) or any other applicable requirements (including, without limitation, whether such transferee individual retirement account or annuity meets the requirements to be a SIMPLE IRA or whether the transferee financial institution properly carries out the Participant’s investment directions) in connection with such transfer, or for any penalty taxes that may be payable in connection there with, which matters shall be the sole responsibility of the Participant.
Transfers from Custodial Account. An individual may direct the Custodian to transfer all or part of the individual's entire interest in the Custodial Account to an individual retirement trust meeting the requirements of Code section 408(a), or to an annuity contract meeting the requirements of Code section 408(b).
