§ 5.19.150. Transfers to other county plans.

A Participant who remains an active County Employee, who commences participation in LACERA or the Judges Retirement Law and who meets the eligibility requirements of any other "eligible deferred compensation plan" sponsored by the County may elect, or the Administrative Committee may elect, to transfer the Participant's membership in the Plan and the amounts credited to his Investment Account to another "eligible deferred compensation plan," under such terms and conditions as are required by the other County "eligible deferred compensation plan." Such election shall be made on a form provided by the County or its Agent. Following such an election by either the Participant or the Administrative Committee, the investments in the Participant's Investment Account shall be liquidated and then the cash shall be transferred to the other County plan within a commercially reasonable period of time, unless the Administrative Committee otherwise makes arrangements for an in-kind transfer of assets. The Participant's account balance under the other County plan immediately after the transfer shall be at least equal to the total amount of the Participant's accounts under the Plan immediately before the transfer.

(Ord. 2004-0001 § 2 (part), 2004.)