Here’s a rundown of what’s allowable under 90-24 transfers under the new 403(b) regulations as explained by Jamie Ohl, VP for The Hartford’s Retirement Plans Group. “The prior 403(b) regulations allowed ‘annuity-to-annuity’ transfers with no employer involvement,” Ohl says, but here’s what became effective Sept. 24:
Exchanges within the same plan permitted:
If the plan allows;
Benefits are not diminished;
Distribution restrictions are not diminished;
Employer and provider enter into Information Sharing Agreement (ISA).