Annuity Distributions Sample Clauses

Annuity Distributions the law requires distributions to certain participants to be in the form of commercial insurance annuities, unless consented to and waived by both the participant and his or her spouse. Participants that are subject to this requirement are identified in section 6.04(E) of the Plan. For administrative convenience choose option (a). If you are restating a plan that was subject to the joint and survivor annuity rules, you must select Option (b).
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Annuity Distributions. A Participant may elect to have the Plan Administrator use the Participant’s vested Account Balance to purchase an annuity as described in Section 8.02 of the Plan.
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Annuity Distributions. If so provided in Section 1.11(c), a Participant may elect distributions made in whole or in part in the form of an annuity contract subject to the provisions of Section 8.03.
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Annuity Distributions. 39 8.03 Joint and Survivor Annuities/Preretirement Survivor Annuities....................40 8.04 Installment Distributions........................................................42 8.05 Immediate Distributions..........................................................44 8.06 Determination of Method of Distribution..........................................44 8.07
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Annuity Distributions. 41 8.03 JOINT AND SURVIVOR ANNUITIES/PRE-RETIREMENT SURVIVOR ANNUITIES.......42 8.04 INSTALLMENT DISTRIBUTIONS............................................44 8.05
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Annuity Distributions. If distributions to any Participant or Beneficiary from the Plan are to be made in the form of an annuity contract purchased from an insurance company, such contract shall provide for distributions to be made in accordance with Section 401(a)(9) of the Code and the Treasury Regulations thereunder.
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Annuity Distributions. If so provided in Section 1.11(c), a Participant may elect distributions made in whole or in part in the form of an annuity contract subject to the provisions of Section 8.03. (a) An annuity contract distributed under the Plan must be purchased from an insurance company and must be nontransferable. The terms of an annuity contract shall comply with the requirements of the Plan and distributions under such contract shall be made in accordance with Section 401(a)(9) of the Code and the regulations thereunder. (b)The payment period of an annuity contract distributed to the Participant pursuant to this Section may be as long as the Participant lives. If the annuity is payable to the Participant and his spouse or designated Beneficiary, the payment period of an annuity contract may be for as long as either the Participant or his spouse or designated Beneficiary lives. Such an annuity may provide for an annuity certain feature for a period not exceeding the life expectancy of the participant. If the annuity is payable certain feature for a period not exceeding the life expectancy of the Participant. If the annuity is payable to the participant and his spouse, such period may not exceed the joint life and last survivor expectancy of the Participant and his spouse, or, if the annuity is payable to the Participant and a designated 44
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Annuity Distributions. Notwithstanding any other provision of the Plan, if annuity distributions are provided for under the Adoption Agreement and a Participant elects distribution of his or her benefits in the form of an annuity, or if annuity distributions are the normal form of benefit under the Plan, as specified in the Adoption Agreement, the Participant's benefits will be paid as provided in this Section 7.7.
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Annuity Distributions. This Appendix C to the First Security Incentive Savings Plan describes the limited instances in which annuity distributions are permitted pursuant to Article X.
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Related to Annuity Distributions

  • Distribution of Excess Contributions If the Advisory Committee determines the Plan fails to satisfy the ADP test for a Plan Year, it must distribute the excess contributions, as adjusted for allocable income, during the next Plan Year. However, the Employer will incur an excise tax equal to 10% of the amount of excess contributions for a Plan Year not distributed to the appropriate Highly Compensated Employees during the first 2 1/2 months of that next Plan Year. The excess contributions are the amount of deferral contributions made by the Highly Compensated Employees which causes the Plan to fail to satisfy the ADP test. The Advisory Committee will distribute to each Highly Compensated Employee his respective share of the excess contributions. The Advisory Committee will determine the respective shares of excess contributions by starting with the Highly Compensated Employee(s) who has the greatest ADP, reducing his ADP (but not below the next highest ADP), then, if necessary, reducing the ADP of the Highly Compensated Employee(s) at the next highest ADP level (including the ADP of the Highly Compensated Employee(s) whose ADP the Advisory Committee already has reduced), and continuing in this manner until the average ADP for the Highly Compensated Group satisfies the ADP test. If the Highly Compensated Employee is part of an aggregated family group, the Advisory Committee, in accordance with the applicable Treasury regulations, will determine each aggregated family member's allocable share of the excess contributions assigned to the family unit.

  • In-Service Distributions [X] (1) In-service distributions may be made from any of the Participant's vested Accounts, at any time upon or after the occurrence of the following events (select all applicable): [X] (a) a Participant's attainment of age 59-1/2. [X] (b) due to hardships as defined in Section 5.9 of the Plan. [ ] (2) In-service distributions are not permitted.

  • Subsidiary Distributions (a) The Borrower will not, and will not permit any of its Restricted Subsidiaries that are not Guarantors to, directly or indirectly, create or permit to exist or become effective any consensual encumbrance or consensual restriction on the ability of any such Restricted Subsidiary to:

  • Liquidating Distributions Notwithstanding anything to the contrary in this Article VII or in Section 8.3 of the Master Agreement, upon the sale of the Property or the dissolution and liquidation of the Series in accordance with the provisions of this Agreement and of Section 8.3 of the Master Agreement, the proceeds of liquidation of the Series or the sale of the Property will be distributed within ninety (90) days of the date of sale of the Property or the dissolution and liquidation in the following order and priority:

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