AUTOMATIC PORTABILITY TRANSACTIONS Sample Clauses
AUTOMATIC PORTABILITY TRANSACTIONS. If elected below or as set forth in separate administrative procedures, the Employer may elect to accept amounts pursuant to an automatic portability transaction as described in Code §4975(f)(12) and BPD Section 4.03.
(a) Plan will accept automatic portability transactions. Check this box if the Plan will accept amounts pursuant to an automatic portability transaction as described in Code §4975(f)(12) and BPD Section 4.03. 🞎 (b) Describe special rules applicable automatic portability transactions:
AUTOMATIC PORTABILITY TRANSACTIONS. The Employer, either in AA §10-4 or through administrative procedures, may elect to accept amounts pursuant to an automatic portability transaction as described in Code §4975(f)(12). The Employer is not responsible for meeting, or ensuring the satisfaction of, the requirements applicable to an automatic portability provider as defined under Code §4975(f)(12)(A)(ii).