Common use of Transfers to Account Clause in Contracts

Transfers to Account. The Employee may by appropriate instructions direct a transfer to the Account from an existing custodial account described in Code Section 403(b)(7) or any annuity contract described in Code Section 403(b)(1) which meets the requirements of Treasury regulation section 1.403(b)-3(a) (a “Section 403(b) contract”). Transfers must be in cash. With respect to a transfer of a Section 403(b) annuity contract or custodial account within the same Employer 403(b) arrangement to the Account, the Custodian will only accept such transfer if an information sharing agreement is entered between the Fund Distributor and the Employer under which the Employer and Fund Distributor will from time to time in the future provide each other with information concerning the Employee’s employment, information that takes into account other Section 403(b) contracts or qualified employer plans (such as information related to distribution restrictions and hardship withdrawals), and information necessary to satisfy other tax requirements. No transfers-in shall be accepted by the Custodian or Fund Distributor on and after the date such Fund Distributor no longer makes its Funds available for transfers-in to this 403(b) Custodial Account.