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participant fee/cashout


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Plan sponsor of 403(b) plan is discontinuing and starting a 401(k).

Investment provider is hitting the sponsor with a participant fee. Is there a way to "cash-out" terminated participants with under $5,000 to end this charge?

Could Plan sponsor unilaterally transfer the participant accounts to a new provider? I think they can only control new money, but am not at all versed in 403(b)s.

Thanks for anyone taking the time to respond.

CBW

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