Common use of Transfer Amounts Clause in Contracts

Transfer Amounts. The Insurance Company may accept directly from another 403(b) annuity all or part of an Eligible Employee's interest in such 403(b) annuity. Any transfer of an Eligible Employee's interest from another 403(b) annuity into this Contract must comply with the requirements of Revenue Ruling 90-24 and any other applicable guidance issued by the Internal Revenue Service. The Insurance Company may request any documents or other information from the Eligible Employee or opinions of counsel which the Insurance Company deems necessary to establish that such interest may be properly transferred to this Contract. The Insurance Company shall not accept any Transfer Amount to the extent that acceptance of such Transfer Amount would necessitate the Insurance Company to take actions inconsistent with the other provisions of this Contract.