415(m) balances when entity changes from governmental entity to 501(c)(3)

[Guest Wahoo77]

We have a corporate entity that is an instrumentality of a state government. The entity plans to "spin off" and become a stand alone 501©(3) entity; no longer an instrumentality of the state. What happens to the vested interests in the 415(m) qualified governmental excess benefit arrangement under its 401(a) plan? What happens to the excess benefit arrangement? We plan to put a 457(b) in place,but we can't rollover from the 415(m) arrangement into the 457(b) plan, can we?