ERISA 403(b)

My inquiry is is a little off topic – but I am hoping that someone can provide assistance and or point me to a reliable source…

An ERISA 403(b) funded with individual 403(b)(7) custodial accounts is changing vendors.

Can the plan trustee authorize all the plan assets to move to the new vendor? Or does each participant need to give his/her authorization? What is the determining factor?

Does the plan document need to have language authorizing a “group/plan” transfer? Does the custodial account govern?

I’ve received numerous conflicting answers.

Thank you



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