MassMutual 8/18/2017 - Laserfiche WebLink

SECTION VII ROLLOVERS AND PLAN TRANSFERS 7.1 Eligible Rollover Contributions to the Plan (a) A Participant who is an Employee or a Participant who has separated from service and has an Account Balance and who is entitled to receive an eligible rollover distribution from - another "eligible retirement plan", as defined in 6.9(b)excluding the direct rollover of after-tax contributions, may request to have all or a portion of the eligible rollover distribution paid to the Plan. The Administrator may require such documentation from the distributing plan as it deems necessary to effectuate the rollover in accordance with Code Section 402 and to confirm that such plan is an "eligible retirement plan" within the meaning of Code Section 402(c)(8)(B). (b) If an Employee makes a rollover contribution to the Plan of amounts that have previously been distributed to him or her,the Employee must deliver to the Administrator the cash that constitutes his or her rollover contribution within 60 days of receipt of the distribution from the distributing "eligible retirement plan". Such delivery must be made in the manner prescribed by the Administrator. (c) The Plan shall establish and maintain for the Participant a separate account for any eligible rollover distribution paid to the Plan from any "eligible retirement plan" that is an eligible governmental plan under Code Section 457(b). In addition,the Plan shall establish and maintain for the Participant a separate account for any eligible rollover distribution paid to the Plan from any"eligible retirement plan"that is not an eligible governmental plan under Code Section 457(b). 7.2 Plan-to-Plan Transfers to the Plan At the direction of the Employer,the Administrator may permit Participants or Beneficiaries who are participants or beneficiaries in another eligible governmental plan under Code Section 457(b) to transfer assets to the Plan as provided in this Section 7.2. Such a transfer is permitted only if the other plan provides for the direct transfer of each Participant's or Beneficiary's interest therein to the Plan. The Administrator may require in its sole discretion that the transfer be in cash or other property acceptable to the Administrator. The Administrator may require such documentation from the other plan as it deems necessary to effectuate the transfer in accordance with Code Section 457(e)(10)and Treasury Regulation Section 1.457-10(b)and to confirm that the other plan is an eligible governmental plan as defined in Treasury Regulation Section 1.457-2(f).The amount so transferred shall be credited to the Participant's Account Balance and shall be held, accounted for,administered and otherwise treated in the same manner as an Annual Deferral by the Participant under the Plan, except that the transferred amount shall not be considered an Annual Deferral under the Plan in determining the maximum deferral under Section III. 26 GN-107672 Specimen 457(b)Plan Document GPLANLVL—CORRSPND Deferred Compensation Plan Ver 102011