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Spin off situation

Guest Pension Girl

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Guest Pension Girl

A tax exempt entity was a participating employer in a 403b plan, and now wishes to no longer participate and establish a new plan. Prior plan is funded with individual contracts. There has not been a termination of employment, only a termination of the employer's participation in a plan. How can participants move their prior contracts to the new plan - ie via a plan to plan transfer but only if permitted by both plans -what if prior plan will not allow? Can a rollover be done? There is technically no separation from service. Thanks

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