§ 5.23.150. Rollovers and Plan-to-Plan Transfers.

A.

Rollovers from Other Plans. A Participant in this Plan who receives a distribution from the qualified plan of another employer, within 60 days after he receives the distribution, may transfer ("Rollover") any part or all of the amount distributed from the plan of the other employer to his Tax Deferred Contributions Account in this Plan, provided that a Rollover from the other plan is permitted by the Code and the regulations issued thereunder.

Notwithstanding the foregoing, the Plan shall not accept as a Rollover Contribution any amount distributed from a designated Roth account (as defined in section 402A of the Code) or from a Roth IRA (as defined in section 408A of the Code).

B.

Rollovers From the Plan.

1.

A Participant who is entitled to receive an Eligible Rollover Distribution from the Plan, may direct the Administrative Committee to have the distribution transferred in a lump sum directly to the trustee of one of the following "eligible retirement plans": (a) an individual retirement account under Code Section 408(a); (b) an individual retirement annuity under Code Section 408(b); (c) an annuity plan described in Code Section 403(a); or (d) a defined contribution plan which is qualified under Code Section 401(a) and permits the acceptance of rollover contributions.

2.

In order for a transfer to be made with respect to a Participant under this section, (a) the Participant must designate in writing the eligible retirement plan to receive the transferred amounts; (b) the Participant must timely provide the Administrative Committee with adequate information to enable the Administrative Committee to determine that the transferee plan is an eligible retirement plan described above; (c) the entire amount to be transferred must be an Eligible Rollover Distribution; and (d) the Participant must have received proper notice in accordance with Code Section 402(f).

3.

This Section 5.23.150B is effective for any distribution made after December 31, 1992.

C.

Transfers between County 401(k) Plans.

1.

Transfers to this Plan from the County Savings Plan. A Participant who is qualified to make Tax Deferred Contributions to this Plan may elect to transfer to this Plan his membership and the balance in his accounts under the County Savings Plan, provided that:

a.

Investments in the Participant's "Account" (as defined in the County Savings Plan)—other than any investment in the "Participant Loan Fund" (as defined in the County Savings Plan)—under the County Savings Plan shall be liquidated and then the cash shall be transferred to this Plan within a commercially reasonable period of time, unless the Administrative Committee otherwise makes arrangements for an in-kind transfer of assets. As soon as practicable following the transfer, the transferred cash shall be invested in the same Investment Funds (or a similar Investment Fund if the identical fund is not an available investment alternative) from which those amounts were liquidated and in the same proportions as they were invested under the County Savings Plan;

b.

Any balance owing and obligations of a County Savings Plan loan shall become the balance owing and obligations due to this Plan; and

c.

Vesting credit and benefit distribution rights accrued in the County Savings Plan shall be transferred to this Plan.

2.

Transfers from this Plan to the County Savings Plan. A Participant who is qualified to make Tax Deferred Contributions (as defined in the County Savings Plan) to the County Savings Plan may elect to transfer to the County Savings Plan his membership and the balance in his accounts under this Plan, provided that:

a.

Investments in the Participant's Account—other than any investment in the Participant Loan Fund—under this Plan shall be liquidated and then the cash shall be transferred to the County Savings Plan within a commercially reasonable period of time, unless the Administrative Committee otherwise makes arrangements for the in-kind transfer of assets. As soon as practicable following the transfer, the transferred cash shall be invested in the same Investment Funds (as defined in the County Savings Plan)—or a similar Investment Fund (if the identical fund is not an available investment alternative) from which those amounts were liquidated and in the same proportions as they were invested under this Plan;

b.

Any balance owing and obligations of a loan under this Plan shall become the balance owing and obligations due to the County Savings Plan; and

c.

Vesting credit and benefit distribution rights accrued in this Plan shall be transferred to the County Savings Plan.

D.

Trustee-to-Trustee Transfers to Purchase Permissive Service Credit and as Repayment of Contributions and Interest.

1.

Notwithstanding any provision of Section 5.23.070 to the contrary, effective on or after September 1, 2007, a Participant may direct the Administrative Committee to make a direct trustee-to-trustee transfer of all or part of the Participant's Accounts, to the extent vested, to a defined benefit governmental plan (as defined in Code section 414(d)) in California if such transfer is (a) for the purchase of service or retirement credit that may be purchased under the terms of such defined benefit governmental plan, or (b) a repayment of contributions (including interest thereon) that may be made under the terms of such defined benefit governmental plan with respect to an amount previously refunded upon a forfeiture of service credit under the plan or under another governmental plan maintained by a State or local government employer.

2.

Unless the Participant directs otherwise, transfers shall be made pro rata from each subaccount within the Participant's Account and from each Investment Fund in which those subaccounts are invested.

3.

The Administrative Committee may take any action and may require the Participant to provide any information or documentation necessary to permit the Administrative Committee to satisfy any obligation imposed on the Administrative Committee by the Code and the regulations thereunder to make a reasonable determination that the trustee-to-trustee transfer satisfies the requirements of the Code and the terms of the Plan and will be accepted by the transferee plan.

E.

Certain Prior Trustee-to-Trustee Transfers to Purchase Permissive Service Credit and as Repayment of Contributions and Interest.

1.

Effective on or after January 1, 1998, an Identified Participant may direct, and will be treated as having directed, the Administrative Committee to make a direct trustee-to-trustee transfer of his or her Transferred Benefits to a defined benefit governmental plan (as defined in Code section 414(d)) in California if such transfer is (a) for the purchase of service or retirement credit that may be purchased under the terms of such defined benefit governmental plan, or (b) a repayment of contributions (including interest thereon) that may be made under the terms of such defined benefit governmental plan with respect to an amount previously refunded upon a forfeiture of service credit under the plan or under another governmental plan maintained by a State or local government employer.

2.

For purposes of this Section 5.23.150.E only:

a.

An "Identified Participant," is a Participant identified by the TPA as having rolled over to a defined benefit governmental plan funds that were not eligible for distribution or withdrawal as provided under Section 5.23.070.

b.

An Identified Participant's "Transferred Benefits" is the portion of that Participant's Account that was not eligible for distribution or withdrawal under Section 5.23.070, but which was nevertheless rolled over to a defined benefit governmental plan.

3.

The Administrative Committee may take any action and may require the Participant to provide any information or documentation necessary to permit the Administrative Committee to satisfy any obligation imposed on the Administrative Committee by the Code and the regulations thereunder to make a reasonable determination that the trustee-to-trustee transfer satisfies the requirements of the Code and the terms of the Plan and will be accepted by the transferee plan.

(Ord. 2008-0004 § 3, 2008; Ord. 2007-0084 § 2, 2007; Ord. 2007-0001 § 3, 2007; Ord. 2001-0097 § 2 (part), 2001.)