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Pardon my jumping in - but the difference is only because the two funds have different NAVs. They may in fact be differrent types of funds (i.e. a mutual fund v. a collective trust). More index funds in retirements plans have been going the collective trust route, to eliminate the regulatory burdens (read "expense") of a mutual fund structure. Less expense theoretically means less tracking error.

When a plan changes funds (whether it be to a like-kind fund, or even a different one) all that ever transfers is the "cash value," and you get whatever number of shares/units that buys in the new fund.
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