Plan-to-Plan Transfers

Q. What is a plan-to-plan transfer?

A. A plan-to-plan transfer is a unique transaction only available to 403(b) plans. It is a transfer that can only be made to a 403(b) plan in which the participant was, or is, an employee of the employer. 

Amounts might need to be signed off on by each participant separately requesting a plan-to-plan transfer (individual contracts), depending on whether the ERISA plan had individual contracts or a group contract. If there is a group contract, the employer may be able to request a full plan-to-plan transfer to the new plan.

Plan-to-plan transfers are non-reportable transactions.