Agenda - 12-07-2009 - 4g - Laserfiche WebLink

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23 {4) The Participant or Beneficiary whose deferred amounts are being transferred 1vi11 have an amount immediately after the transfer at least equal to the deferred amount immediately before the transfer. The Employer may require such documentation from the other plan as it deems necessarJ= to effectuate the transfer, to con6rtn that such plan is an eligible deferred compensation plan within the meaning of Section 457(b} of the Code, and to assure that transfers are provided for under such plan. Such transfers shall be made only under such circumstances as are permitted under Section 457 of the Code and the regulations thereunder. 6.10 Transfers Ainong Eligible Deferred Compensation Plans of the Employer. (a) Ltcorrrirtg Tiarrsfers. A transfer may be accepted from another eligible deferred compensation plan maintaa-ed by the Employer and credited to a Participant's or BeneficiarJ%s Account under the Plan iE (Z} The Employer's other plan provides that such transfer will be made; (2) The Participant or Beneficiary whose deferred amounts are being transferred will have an amount immediately after the transfer at least equal to the deferred amount immediately before the transfer; and (3) The Participant or Beneficiary whose deferred amounts are being transferred is not eligible for additional annual deferrals in the Plan unless the Participant or Beneficiary is performing services for the Employer. (b) OardgoingTrmrsfers. Atransfer may be accepted from another eligible deferred compensation plan maintained by the Employer and credited to a Participant's or Beneficiary's Account under the flan if: {1) The Employer's other plan provides that such transfer will be accepted; (2) The Participant or Beneficiary whose deferred amounts arc being transferred will have an amount immediarel=after the transfer at least equal to the deferred amount immediately before the transfer; and (3) The Participant or Beneficiary tivhose deferred amounts are being transferred is not eligible for additional annual deferrals ui the Employer's other eligible deferred compensation plan unless the Participant or Beneficiary is performing services for the Employer. 6.11 Eligible Rollover Distributions. (a) Incoming Rollovers: An eligible rollover distribution may be accepted from an eligible retirement plan and credited to a Participant's Account under the flan. The Employer may require such documentation from the distributing plan as it deems necessary to effectuate the rollover i:t accordance with Section 402 oFthe Code and to confirm that such plan is an eligible retirement plan within the meaning of Section 402(c)(8)(B) of the Code. The Plan shall separatelJ=account (in one or mote separate accounts) for eligible rollover distributions from any eligible retirement plan. (b) OtttgoirtgRolloners: Notwithstanding anJ= provision of the Plan to the contrary that would otherwise limit a distributee's election under this Section, a distributee may elect, at the time and in the manner prescribed 6J=the Administrator, to have any portion of an eligible tRollover distribution paid directly to an eligible retirement plan specified 6y the distributee in a direct rollover. {c) Deftrrrtiorrs: (1) Eligible Rallot~er Dist~ihrrtiorr: An eligible rollover distribution is anJ= distribution of all or any gortion of the balance to the credit of the distributee, except that an eligible rollover distribution does riot