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Transfer Restrictions

In life, things don't always go according to plan. You may have thought you would be a doctor but you ended up being a firefighter. You probably swore you would never fall in love, and now you have twins. Maybe you thought you would stay at your first job forever, but as of now you have had three great jobs in your career. The point is, in life, it's best to have a plan - and then build in some flexibility just in case things do not go according to plan.
In the same way, while it is wise to invest retirement savings for the long haul, you might have to make some adjustments along the way. You could change jobs and need to roll money to another plan. Or, you might decide you want a less aggressive strategy when you get closer to retirement - because you'll need your money sooner rather than later.
It is important to know that most retirement plans do not allow you to take money out of the plan before you've actually retired without paying penalties. (This is for your own protection - so you will keep your nest egg growing.) However, most retirement plans will let you move your money between funds at any time - that is, unless your investment fund has a transfer restriction.
What should you do about transfer restrictions? Learn whether your investment funds have them before you invest, so that you can understand all of the potential positives and negatives of your fund choices. Carefully consider what might happen if your life changes and you truly need to move your money. Transfer restrictions can cost you plenty over the long term, especially at times when you most need flexibility.
The Investment Plan has Excessive Trading Guidelines to help protect all Investment Plan members by preventing any short-term excessive fund trading within the Investment Plan primary funds. Be sure to review the guidelines prior to processing any trades.