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7.3 Plan-to-Plan Transfers from the Plan <br /> (a) At the direction of the Employer,the Administrator may permit Participants or <br /> Beneficiaries to elect to have his or her Account Balance transferred to another eligible <br /> governmental plan within the meaning of Treasury Regulatory Section 1.457-2(f), if the <br /> other eligible governmental plan provides for the receipt of transfers,the Participant or <br /> Beneficiary whose amounts deferred are being transferred will have an amount deferred <br /> immediately after the transfer at least equal to the amount deferred with respect to that <br /> Participant or Beneficiary immediately before the transfer, and the conditions of <br /> subparagraph(i), (ii), or(iii) are met. <br /> (i) A transfer from the Plan to another eligible governmental plan is permitted in the <br /> case of a transfer for a Participant if the Participant has had a Severance from <br /> Employment with the Employer and is performing services for the entity <br /> maintaining the other eligible governmental plan. <br /> (ii) A transfer from the Plan to another eligible governmental plan is permitted if: <br /> (A) The transfer is to another eligible governmental plan within the same State <br /> as the Plan; <br /> (B) All the assets held by the Plan are transferred; and <br /> (C) A Participant or Beneficiary whose amounts deferred are being transferred <br /> is not eligible for additional annual deferrals in the other eligible <br /> governmental plan unless he or she is performing services for the entity <br /> maintaining the other eligible governmental plan. <br /> (iii) A transfer from the Plan to another eligible governmental plan of the Employer is <br /> permitted if: <br /> (A) The transfer is to another eligible governmental plan of the Employer(and, <br /> for this purpose, an employer is not treated as the Employer if the <br /> Participant's compensation is paid by a different entity); and <br /> (B) A Participant or Beneficiary whose deferred amounts are being transferred <br /> is not eligible for additional annual deferrals in the other eligible <br /> governmental plan unless he or she is performing services for the entity <br /> maintaining the other eligible governmental plan. <br /> (b) Upon the transfer of assets under this Section 7.3, the Plan's liability to pay benefits to the <br /> Participant or Beneficiary under this Plan shall be discharged to the extent of the amount so <br /> transferred for the Participant or Beneficiary. The Administrator may require such <br /> documentation from the receiving plan as it deems appropriate or necessary to comply with <br /> this Section(for example, to confirm that the receiving plan is an eligible governmental <br /> plan under paragraph(a) of this Section 7.3, and to assure that the transfer is permitted <br /> 27 <br /> GN-107672 Specimen 457(b)Plan Document <br /> GPLANLVL—CORRSPND Deferred Compensation Plan <br /> Ver 102011 <br />