403b plan to plan transfer

[Guest Serena]

A 403b plan has a participating employer who is being acquired by another entity. The affected employees will no longer participate in the plan. If new employer sponsors a 403b plan, can the new employer mandate a plan to plan sponsor from prior 403b plan into new employer's 403b plan or is this transfer at the participant level only? Is there such thing as a 403b spin-off?

Thanks

PS assets are in group contract.

[TLGeer]

A 403b plan has a participating employer who is being acquired by another entity. The affected employees will no longer participate in the plan. If new employer sponsors a 403b plan, can the new employer mandate a plan to plan sponsor from prior 403b plan into new employer's 403b plan or is this transfer at the participant level only? Is there such thing as a 403b spin-off?

Thanks

PS assets are in group contract.

As to the plan to plan transfer, yes, subject to the terms of the GAC. Does it allow the employer or the plan to terminate it and allow the employer/olan to designate a target for the asset transfer? If so, just do it and direct the transfer.

Tom Geer