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30 <br />GN - 150079 Specimen 457(b) Plan Document <br />GPLANLVL – CORRSPND Deferred Compensation Plan <br /> Ver 102011 <br />(B) A Participant or Beneficiary whose deferred amounts 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 />(b) Upon the transfer of assets under this Section 7.3 , the Plan's liability to pay benefits to the <br />Participant or Beneficiary under this Plan shall be discharged to the extent of the amount <br />so transferred for the Participant or Beneficiary. The Administrator may require such <br />documentation from the receiving plan as it deems appropriate or necessary to comply <br />with this Section (for example, to confirm that the receiving plan is an eligible <br />governmental plan under paragraph (a) of this Section 7.3 , and to assure that the transfer <br />is p ermitted under the receiving plan) or to effectuate the transfer pursuant to Treasury <br />Regulation Section 1.457 -10(b). <br />7.4 Permissive Service Credit Transfers <br />(a) If a Participant is also a participant in a tax -qualified defined benefit governmental plan <br />(as defined in Code Section 414(d)) that provides for the acceptance of plan -to-plan <br />transfers with respect to the Participant, th en the Participant may elect to have any <br />portion of the Participant's Account Balance transferred to the defined benefit <br />governmental plan. A transfer under this Section 7.4(a) may be made before the <br />Pa rticipant has had a Severance from Employment and without regard to whether the <br />defined benefit governmental plan is maintained by the Employer. The distribution rules <br />applicable to the defined benefit governmental plan to which any amounts are transferred <br />under this Section 7.4 shall apply to the transferred amounts and any benefits attributable <br />to the transferred amounts. <br />(b) A transfer may be made under Section 7.4(a) only if the transfer is either for the purchase <br />of permissive service credit (as defined in Code Section 415(n)(3)(A)) under the <br />receiving defined benefit governmental plan, including service credit for periods for <br />which there is no performance of services, service credited in order to provide an <br />increased benefit for service credit which a participant is receiving under the plan, and <br />service (including parental, medical, sabbatical, and similar leave) as an employee (other <br />than as an employee described in Code Section 415(n)(3)(C)(i)) of an educational <br />organization described in Code Section 170(b)(1)(A)(ii) which is a public, private, or <br />sectarian school which provides elementary or secondary education (through grade 12) or <br />a co mparable level of education, as determined under the applicable law of the <br />jurisdiction in which the service was performed, without application of the limitations of <br />Code Section 415(n)(3)(B) in determining whether the transfer is for the purchase of <br />permissive service credit, or a repayment to which Code Section 415 does not apply by <br />reason of Code Section 415(k)(3). <br />483