No Rollover Contributions Clause Samples

The "No Rollover Contributions" clause prohibits participants from transferring funds or assets from other retirement or benefit plans into the current plan. In practice, this means that only new contributions made directly to the plan are permitted, and any attempts to consolidate or move existing balances from other accounts will not be accepted. This clause helps maintain the integrity and intended structure of the plan by preventing the commingling of outside funds, ensuring compliance with plan rules and simplifying administrative oversight.