Application of Involuntary Cash-out Provisions. o 1. The Plan shall not make involuntary cash-outs to any terminated vested Participant. Distributions will only be made with the consent of the Participant. þ 2. The Plan shall make involuntary cash-outs to a terminated vested Participant as follows: o a. The Plan shall make involuntary cash-out distributions of Vested Account Balances of less than $200. Distribution of amounts $200 or greater shall only be made with the consent of the Participant. þ b. The Plan shall make involuntary cash-out distributions of Vested Account Balances of $1,000 or less. Distribution of amounts greater than $1,000 shall only be made with the consent of the Participant.
Appears in 3 contracts
Samples: Savings and Investment Plan Document (Sterling Chemicals Inc), Adoption Agreement (Sterling Chemicals Inc), Defined Contribution Plan (Athens Bancshares Corp)
Application of Involuntary Cash-out Provisions. o [ ] 1. The Plan shall not make involuntary cash-outs to any terminated vested Participant. Distributions will only be made with the consent of the Participant.
þ . [x] 2. The Plan shall make involuntary cash-outs to a terminated vested Participant as follows:
o : [ ] a. The Plan shall make involuntary cash-out distributions of Vested Account Balances of less than $200. Distribution of amounts $200 or greater shall only be made with the consent of the Participant.
þ . [x] b. The Plan shall make involuntary cash-out distributions of Vested Account Balances of $1,000 or less. Distribution of amounts greater than $1,000 shall only be made with the consent of the Participant.
Appears in 2 contracts
Samples: Adoption Agreement (Connecticut Water Service Inc / Ct), Defined Contribution Plan (Old Dominion Freight Line Inc/Va)
Application of Involuntary Cash-out Provisions. o 1. The Plan shall not make involuntary cash-outs to any terminated vested Participant. Distributions will only be made with the consent of the Participant.
þ x 2. The Plan shall make involuntary cash-outs to a terminated vested Participant as follows:
o a. The Plan shall make involuntary cash-out distributions of Vested Account Balances of less than $200. Distribution of amounts $200 or greater shall only be made with the consent of the Participant.
þ x b. The Plan shall make involuntary cash-out distributions of Vested Account Balances of $1,000 or less. Distribution of amounts greater than $1,000 shall only be made with the consent of the Participant.
Appears in 1 contract
Samples: Nonstandardized Adoption Agreement (First Northwest Bancorp)
