Plan-to-Plan Transfer Clause Samples

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Plan-to-Plan Transfer. As soon as administratively feasible after the end of the applicable Coverage Period, CAI will cause the rabbi trustee of the CAI NSP to transfer directly to the rabbi trustee of the Enova NSP the assets reflecting the account balance of each Transitioned Employee under the CAI NSP (other than the portion of the account balance of any Dual Transitioned Employee attributable to contributions made under the CAI NSP for services provided as an employee of any member of the CAI Group). Enova will take all steps necessary to cause the Enova NSP rabbi trust to accept such transfer. Such transfer will be carried out under procedures mutually agreeable to CAI and Enova. To the extent that assets representing a Transitioned Employee’s benefits under the CAI NSP are transferred as provided herein, the liability and responsibility to pay such benefits will be transferred to the Enova NSP, and Enova shall continue to have the liability for such benefits.
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Plan-to-Plan Transfer. The DC Plan shall accept plan-to-plan transfers of accumulated contributions made under the Employer’s Retirement System with respect solely to a member who (i) voluntarily and irrevocably elects to join the DC Plan and ceases membership under the Retirement System and (ii) has less than eight (8) years of credited service under the Retirement System. Such plan-to-plan transfer will be automatic for such unvested members who join the DC Plan with no election to receive their accumulated contributions in cash. The DC Plan shall restrict the distribution of such transferred accumulated contributions until such date as the unvested member experiences a distributable event as defined under the terms of the Retirement System and the DC Plan.
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Plan-to-Plan Transfer. If the Company determines in accordance with the foregoing that a distribution is not permissible under Section 401(k) of the Code, then Buyer and the Company agree to use their reasonable best efforts to effect a plan to plan transfer of the account balances and related Liabilities of the Transferred Employees, except to the extent the Company elects to allow Transferred Employees to choose to retain their account balances in the Company Savings Plans (and to the extent Transferred Employees elect to so retain their account balances). Such a transfer (if any) shall occur on or as soon as practicable after the Closing Date. To implement such a transfer (if any), the Company shall direct the trustee(s) of the Company Savings Plans to transfer to the trustee or funding agent of the Buyer Savings Plan an amount in cash or kind (as determined by the Company with the consent of Buyer, which shall not be unreasonably withheld) equal in value to the account balances of the Transferred Employees covered by the Company Savings Plans as of the date of the transfer (other than any such employees who are permitted by the Company to elect, and who so elect, to retain such account balances in the Company Savings Plans); provided that to the extent the account balances to be transferred consist in whole or in part of outstanding loans, the Company shall direct the trustee(s) of the Company Savings Plans to transfer to the trustee or funding agent of the Buyer Savings Plan, in lieu of cash, the promissory notes and related documents evidencing such loans. Buyer and the Company shall take such actions as may be required to effect the assignment of such loans by the trustee(s) of the Company Savings Plans to the trustee or funding agent of the Buyer Savings Plan. In addition, the transfer procedure (if any) shall ensure that all account balances of Transferred Employees remain invested, or receive a reasonable rate of return, throughout the transfer process. As of the date and to the extent that assets from the Company Savings Plan are transferred to a Buyer Savings Plan, all Liabilities related to or arising from such assets shall be assumed by Buyer Savings Plan.
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Plan-to-Plan Transfer. On the Savings Plan Transfer Date, CAI will cause the trustee of the CAI Savings Plan to transfer directly to the trustee of the Enova Savings Plan the account balance of each Transitioned Employee under the CAI Savings Plan (other than the account balance of any Dual Transitioned Employee attributable to contributions made under the CAI Savings Plan for services provided as an employee of any member of the CAI Group). Enova will take all steps necessary to cause the Enova Savings Plan and related trust to accept such transfer. Such transfer will comply with all requirements of the Code and ERISA (including, but not limited to, Code Section 414(l), ERISA Section 101(i), and any governmental notification requirements), and will be carried out under procedures mutually agreeable to CAI and Enova.
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Plan-to-Plan Transfer. (9.03). (Plan-to-Plan transfers are only permitted to/from another eligible 457 Plan.) a. [ ] Does not permit plan-to-plan transfers. b. [X] Does Permit plan-to-plan transfers.
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Plan-to-Plan Transfer. With respect to any employee who has less than eight (8) years of credited service under the Retirement System as of June 30, 2017, the Retirement System shall automatically transfer such member’s accumulated contributions to the DC Plan, with no election to receive their accumulated contributions in cash. The DC Plan shall restrict the distribution of such transferred accumulated contributions until such date as the unvested member experiences a distributable event as defined under the terms of the Retirement System and the DC Plan.
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Plan-to-Plan Transfer. With regard to the Retirement Plan, if Purchaser maintains or establishes a Purchaser Qualified Plan that corresponds with the Retirement Plan, Pfizer agrees to undertake a Plan to Plan Transfer as soon as practicable after the Closing Date of assets equal to the aggregate ABO of the Affected Employees under such Retirement Plan, subject to the requirements of Section 414(l) of the Code. With Regard to any Funded Foreign Plan, Pfizer agrees to undertake a Plan to Plan Transfer as soon as practicable after the Closing Date of assets equal to the aggregate ABO of the Affected Employees under such Funded Foreign Plan, or such amount as shall be required by applicable Law or regulation of the applicable jurisdiction.
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Related to Plan-to-Plan Transfer

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • No Transfer of Servicing With respect to the retention of the Company to service the Mortgage Loans hereunder, the Company acknowledges that the Purchaser has acted in reliance upon the Company's independent status, the adequacy of its servicing facilities, plan, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of this Section, the Company shall not either assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Purchaser, which consent shall be granted or withheld in the Purchaser's sole discretion. Without in any way limiting the generality of this Section 8.05, in the event that the Company either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof without (i) satisfying the requirements set forth herein or (ii) the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this Agreement, without any payment of any penalty or damages and without any liability whatsoever to the Company (other than with respect to accrued but unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third party.

  • Participant Bound by Plan Participant hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all the terms and provisions thereof.

  • Nonqualified Distributions If you do not meet the requirements for a qualified distribution, any earnings you withdraw from your ▇▇▇▇ ▇▇▇ will be included in your gross income and, if you are under age 59½, may be subject to an early distribution penalty tax. However, when you take a distribution, the amounts you contributed annually to any ▇▇▇▇ ▇▇▇ and any military death gratuity or Servicemembers’ Group Life Insurance (SGLI) payments that you rolled over to a ▇▇▇▇ ▇▇▇, will be deemed to be removed first, followed by conversion and employer-sponsored retirement plan rollover contributions made to any ▇▇▇▇ ▇▇▇ on a first-in, first-out basis. Therefore, your nonqualified distributions will not be taxable to you until your withdrawals exceed the amount of your annual contributions, military death gratuity or SGLI payments and your conversions and employer-sponsored retirement plan rollovers.

  • Employee Transfers It is anticipated that an Employee may be transferred between Participating Employers, and in the event of any such transfer, the Employee involved shall carry with him his accumulated service and eligibility. No such transfer shall effect a termination of employment hereunder, and the Participating Employer to which the Employee is transferred shall thereupon become obligated hereunder with respect to such Employee in the same manner as was the Participating Employer from whom the Employee was transferred.