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This really depends upon your specific plan and administrator. I have been in two plans, one from the State of Oregon which allows on line transfers on a daily basis. The other plan I was in was the County of Fresno which required you to go through the plan administrator with paperwork signed by the auditors office. There was no restriction, it just took longer.

Check with your administrator. You should be able to transfer at will except for specific restrictions that may apply from fixed value to variable accounts.
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