Plan-to-Plan Transfers. All Plan-to-Plan Transfers shall be credited to the Plan-to-Plan Transfer Account of such Employee as of each Valuation Date. Notwithstanding the preceding, any portion of a Plan-to-Plan Transfer or Rollover Contribution that the Plan Administrator has certified to the Trustee as having been subject to the restrictions on distribution set forth in Code section 401(k)(2)(B) while in the other qualified plan shall be credited to the Salary Deferral Account of the Employee, as of each Valuation Date.
Plan-to-Plan Transfers. Custodian may accept a Transfer Contribution in a plan to plan transfer provided that the transaction satisfies the requirements for a tax-free transfer under Section 403(b) of the Code and applicable IRS regulations and guidance, and the Plan permits such transfers. If the Custodian is provided with sufficient information and representations that the proposed transaction qualifies as a plan to plan transfer, Custodian shall accept the transfer and deposit the proceeds into the Participant’s Account based on such Instructions. If the Employer has delegated administrative responsibilities under the Plan to a TPA and that TPA has qualified the transaction as a plan to plan transfer, the Custodian shall accept the transfer and deposit the proceeds in the participant’s Account. The Custodian has no duty to inquire into the source of any assets transferred to it or the right of the transferor to make such transfer. Neither the Custodian nor the Program Sponsor shall be liable for any losses arising from the acts, omissions, delays or failure of any other party involved in a plan to plan transfer under this Section.
Plan-to-Plan Transfers from this Custodial Account. The Participant may cause the transfer (or exchange), in cash, of all or any portion of the balance credited to a Participant’s account from this Custodial Account directly to the custodian of another custodial account qualified under Section 403(b)(7) of the Code or to an insurance company designated by the Participant for the purchase, for the benefit of the Par- ticipant, of an annuity contract qualified under Section 403(b) of the Code if the Administrator, or Vendor, if applicable certifies that the transaction meets the requirements for a tax-free transfer or exchange under section 1.403(b)-10(b), and any other applicable laws or rulings of the Internal Revenue Service. Plan-to-Plan Transfer or Exchange assets once received by the new custodian or issuer shall be applied to the original source from such transferred or exchanged assets, on behalf of such Participant. If it is not possible to determine the source of the funds being transferred or involved in an exchange then instructions shall accompany the assets for such assets to be placed in a restricted source under the new custodial ac- count (or annuity) and will be subject to the strictest distributable events with respect to sources under the new custodial account or annuity.
Plan-to-Plan Transfers. Notwithstanding any provision of the Plan to the contrary, all or any part of the value of a Participant’s Account may be transferred to another Eligible Deferred Compensation Plan if: (i) the Participant directs the Plan Administrator or his or her designee to make such transfer in writing or in any other form permitted by the Plan Administrator his or her designee, (ii) such transfer occurs after the Participant’s Severance Date,
Plan-to-Plan Transfers. (1) The term "Plan-to-Plan Transfer" means a transfer of assets between this Plan and another qualified plan. Unless specifically prohibited in the Adoption Agreement, the Trustee may accept Plan-to-Plan Transfers from another qualified plan under Code section 401(a) if the funds so transferred were held for the benefit of a person who is an Employee, whether or not a Participant, at the time of such transfer, provided, however, that the Plan Administrator must first certify to the Trustee (a) that such other employee benefit plan is qualified under Code section 401(a), and (b) what portion, if any of the funds to be received in a Plan-to-Plan Transfer were subject to restrictions on distributions similar to those set forth in Code section 401(k)(2)(B) or 401(a)(11)(B)(iii)(III) while in the other qualified plan. However, if the Plan-to-Plan Transfer is the result of a merger or partial merger of another profit sharing plan qualified under Code section 401(a), the Employer may amend the Plan to designate the accounts to which the monies will be applied, within the applicable limits of the law. Notwithstanding anything herein to the contrary, a transfer directly to this Plan from another qualified plan (or a transaction having the effect of such a transfer) shall only be permitted if it will not result in the elimination or reduction of a Protected Benefit.
Plan-to-Plan Transfers. A GLWB Participant or Beneficiary may direct that all or a portion of the GLWB Participant Account Value be transferred in a single sum to a contract under the retirement plan of another plan sponsor. Such transfers will be treated as Excess Withdrawals and will be permitted provided: • Both the transferor and transferee retirement plan provide for such transfers, and the transfer satisfies the terms of the Plan and applicable provisions of the Code; • In the case of a transfer for a GLWB Participant, the GLWB Participant is an employee or former employee of the plan sponsor (or the business of the plan sponsor) for the receiving plan; • In the case of a transfer for a Beneficiary, the GLWB Participant was an employee or former employee of the plan sponsor (or the business of the plan sponsor) for the receiving plan; • Great-West receives a request, in Good Order, for such transfer; and • The restrictions, if any, contained in any riders allow such transfer.
Plan-to-Plan Transfers. If and to the extent permitted under the Plan and provided that the conditions set forth below are satisfied, the Participant may direct either (i) that the Custodian accept a Plan-to-Plan Transfer as a Contribution to the Account or (ii) a Plan-to-Plan Transfer from the Plan to another plan described in Code Section 403(b) of all or such portion of the assets credited to the Participant’s Account as the Participant specifies, in accordance with Section 7.1(a); provided that the receiving Vendor (including the Custodian in the case of a Plan-to-Plan Transfer to the Account) is a Designated Vendor of the transferee plan and that the Participant provides to the Custodian such other instructions, if any, as the Custodian may reasonably require and an acceptance of the successor custodian, trustee, or insurance company (which may include consent to the transfer by the Employer and/or the transferee employer). A Plan-to-Plan Transfer between the Plan and another plan described in Code Section 403(b) (as applicable) is not permitted unless each of the following conditions is satisfied:
Plan-to-Plan Transfers. With the consent of the Plan Administrator, amounts may be transferred (within the meaning of Section 414(1) of the Code) to the Plan from other tax qualified plans under Section 401(a) of the Code by Eligible Employees, provided that the trust from which such funds are transferred permits the transfer to be made and the transfer will not jeopardize the tax exempt status of the Plan or Trust or create adverse tax consequences for the Employer. Prior to accepting any transfers to which this Section applies, the Plan Administrator may require an opinion of counsel that the amounts to be transferred meet the requirements of this Section. The amounts transferred shall be set up in a separate account herein referred to as a Participant's Transfer Account. Furthermore, for vesting purposes the Participant's Transfer Account attributable to any transfer shall be subject to vesting under the provisions of Article VIII hereof, provided no vested amount shall be reduced as a result of such transfer. Except as permitted by Treasury Regulations (including Regulation 1.411(d)-4), amounts attributable to elective contributions (as defined in Regulation 1.401(k)-1(g)(3)), including amounts treated as elective contributions, which are transferred from another qualified plan in a plan-to-plan transfer (other than a direct rollover) shall be subject to the distribution limitations provided for in Regulation 1.401(k)-1(d). Amounts in a Participant's Transfer Account shall be held by the Trustee pursuant to the provisions of the Plan and may not be withdrawn by, or distributed to the Participant, in whole or in part, except as provided in this Section. The Trustee shall have no duty or responsibility to inquire as to the propriety of the amount, value or type of assets transferred, nor to conduct any due diligence with respect to such assets; provided, however, that such assets are otherwise eligible to be held by the Trustee under the terms of this Plan. Upon a Participant or Beneficiary becoming entitled to a benefit under the Plan, the Participant's Transfer Account shall be used to provide additional benefits to the Participant or the Beneficiary. Any distributions of amounts held in a Participant's Transfer Account shall be made in a manner which is consistent with and satisfies the provisions of Articles X, XI and XII, including, but not limited to, all notice and consent requirements of Section 411(a)(11) of the Code and the Treasury Regulations thereunder. Furthermore...
Plan-to-Plan Transfers. All or a portion of the Participant’s Account may be transferred to another section 403(b) plan in a “plan-to-plan” transfer, provided that (1) the Participant is an employee or former employee of the employer (or the business of the employer) of the receiving plan, or, in the case of a transfer for a Beneficiary of a deceased Participant, the deceased Participant was an employee or former employee of the employer (or the business of the employer) of the receiving plan, (2) the Plan provides for the transfer, (3) the receiving plan provides for the receipt of transfers, (4) the Participant or Beneficiary has an accumulated benefit immediately after the transfer that is at least equal to the accumulated benefit of that Participant or Beneficiary immediately before the transfer, which would otherwise satisfy Code section 414(l), and (5) the receiving plan provides that, to the extent any amount transferred is subject to distribution restrictions under §1.403(b)-6, the receiving plan imposes restrictions on distributions to the Participant or Beneficiary whose assets are being transferred that are not less stringent than those imposed by the Plan. Unless otherwise directed by the Employer or required by the Plan, the Custodian shall transfer a proportionate amount of Account assets by source or sub-account to the receiving plan, in the event that a plan-to-plan transfer does not constitute a complete transfer of the Participant’s or Beneficiary’s interest in his or her Account.
Plan-to-Plan Transfers. (1) If elected by the Employer in the Adoption Agreement, the Trustee shall accept Plan-to-Plan Transfers from another qualified plan under Code section 401(a) if the funds so transferred were held for the benefit of a person who is an Employee, whether or not a Participant, at the time of such transfer, provided, however, that the Plan Administrator must first certify to the Trustee (a) that such other employee benefit plan is qualified under Code section 401(a), and (b) what portion, if any of the funds to be received in a Plan-to-Plan Transfer were subject to restrictions on distributions similar to those set forth in Code section 401(k)(2)(B) or 401(a)(11)(B)(iii)(III) while in the other qualified plan. However, if the Plan-to-Plan Transfer is the result of a merger or partial merger of another profit sharing plan qualified under Code section 401(a), the Employer may amend the Plan to designate the accounts to which the monies will be applied, within the applicable limits of the law. Notwithstanding anything herein to the contrary, a transfer directly to this Plan from another qualified plan (or a transaction having the effect of such a transfer) shall only be permitted if it will not result in the elimination or reduction of a Protected Benefit.
