Q. When are plan-to-plan transfers between 403(b) plans permitted?
A. Plan-to-plan transfers between 403(b) plans are permitted if:
- the terms of the transferring and receiving plans allow these transfers;
- the transferred assets belong to a current or former employee of the receiving plan’s sponsor;
- the accumulated benefit after the exchange is at least the same as before the exchange; and
- any benefit restrictions of the transferring plan are maintained by the receiving plan.
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