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29 <br />GN - 150079 Specimen 457(b) Plan Document <br />GPLANLVL – CORRSPND Deferred Compensation Plan <br /> Ver 102011 <br />to transfer assets to the Plan as provided in this Section 7.2 . Such a transfer is permitted only if <br />the other plan provides for the direct transfer of each Participant's or Beneficiary ’s interest <br />therein to the Plan. The Administrator may require in its sole discretion that the transfer be in <br />cash or other property acceptable to the Administrator. The Administrator may require such <br />documentation from the other plan as it deems necessary to effectuate the transfer in accor dance <br />with Code Section 457(e)(10) and Treasury Regulation Section 1.457 -10(b) and to confirm that <br />the other plan is an eligible governmental plan as defined in Treasury Regulation Section 1.457 - <br />2(f). The amount so transferred shall be credited to the Participant's Account Balance and shall <br />be held, accounted for, administered and otherwise treated in the same manner as an Annual <br />Deferral by the Participant under the Plan, except that the transferred amount shall not be <br />considered an Annual Deferral under the Plan in determining the maximum deferral under <br />Section III. <br />7.3 Plan-to -Plan Transfers from the Plan <br />(a) At the direction of the Employer, the Administrator may permit Participants or <br />Beneficiaries to elect to have his or her Account Balance transferred to another eligible <br />governmental plan within the meaning of Treasury Regulatory Section 1.457 -2(f), if the <br />other eligible governmental plan provides for the receipt of transfers, the Participant or <br />Beneficiary whose amounts deferred are being transferred will have an amount deferred <br />immediately after the transfer at least equal to the amount deferred with respect to that <br />Participant or Beneficiary immediately before the transfer, and the conditions of <br />subparagraph (i), (ii), or (iii) are met. <br />(i) A transfer from the Plan to another eligible governmental plan is p ermitted in the <br />case of a transfer for a Participant if the Participant has had a Severance from <br />Employment with the Employer and is performing services for the entity <br />maintaining the other eligible governmental plan. <br />(ii) A transfer from the Plan to anoth er eligible governmental plan is permitted if: <br />(A) The transfer is to another eligible governmental plan within the same State <br />as the Plan; <br />(B) All the assets held by the Plan are transferred; and <br />(C) A Participant or Beneficiary whose amounts deferred are being transferred <br />is not eligible for additional annual deferrals in the other eligible <br />governmental plan unless he or she is performing services for the entity <br />maintaining the other eligible governmental plan. <br />(iii) A transfer from the Plan to another el igible governmental plan of the Employer is <br />permitted if: <br />(A) The transfer is to another eligible governmental plan of the Employer <br />(and, for this purpose, an employer is not treated as the Employer if the <br />Participant's compensation is paid by a different entity); and <br />482