Automatic Rollovers. Do not complete if a selection has been made at Section XVI(F)(1) or (2) above.
1. The Plan shall make automatic rollovers of Vested Account Balances that are greater than $1,000 but are not more than $5,000 in accordance with the provisions of Article VI of the Basic Plan Document #01. [ ] 2. The Plan shall make automatic rollovers of Vested Account Balances that are not more than $5,000 in accordance with the provisions of Article VI of the Basic Plan Document #01.
Automatic Rollovers. Do not complete if a selection has been made at Section XVI(F)(1) or (2) above.
Automatic Rollovers. In accordance with Code section 403(b)(10), the provisions for automatic rollover of certain mandatory distributions as set forth in Code section 401(a)(31)(B) also shall apply to the Custodial Account.
Automatic Rollovers. If the Employer’s Plan requires, a distribution may be made without the consent of the Participant, if the Participant’s total balance under the Employer’s Plan does not exceed the amount described in section 411(a)(11) of the Code. Any such distribution shall be made in accordance with section 401(a)(31) of the Code, and only pursuant to the direction of Employer or Plan Administrator. The Plan Administrator shall be responsible for determining compliance with its procedures and documentation, the Code and the Plan.
Automatic Rollovers. Effective for distributions on and after March 28, 2005, in the event of a mandatory distribution greater than one thousand dollars ($1,000), or some lesser amount, in accordance with the provisions of Subsection 2.5.6(a), if the Participant does not elect to have such distribution paid directly to an Eligible Retirement Plan specified by the Participant in a Direct Rollover or to receive the distribution directly in accordance with Subsection 2.5.6(a), then the Plan Administrator will pay the distribution in a Direct Rollover to an individual retirement plan designated by the Plan Administrator. For purposes of determining whether a mandatory distribution is greater than one thousand dollars ($1,000), the portion of the Participant’s distribution attributable to any rollover contribution is included.
Automatic Rollovers. Unless the Administrative Agent is otherwise advised in writing by the Borrower at least five Banking Days prior to a Period End Date, and provided no Default or Event of Default has occurred and is continuing, the Administrative Agent shall, on such Period End Date, rollover such Loan into a Loan having the same Interest Period as the relevant Loan that expired on such Period End Date.
Automatic Rollovers. 1. If this Account was established pursuant to an agreement between the Custodian, or the Former Custodian (if applicable), and the plan sponsor and/or plan administrator of a retirement plan (“plan sponsor”) to create an automatic rollover IRA within the meaning of IRC section 401(a)(31)(B) (“automatic rollover agreement”), then the provisions in this Article XXI also apply to this Agreement. Under such automatic rollover agreement, the plan sponsor had the sole responsibility to (a) direct the initial investment of the funds in each IRA, and (b) determine that the investment selected by the plan sponsor satisfies the fiduciary responsibility provisions of 404(a) of the Employee Retirement Income Security Act of 1974, as amended, and Title 29 of the Code of Federal Regulations section 2550.404a -2 or 404a-3, as applicable, and in accordance with IRC section 401(a)(31)(B).
2. In accordance with the automatic rollover agreement, the plan sponsor made a distribution in a direct rollover to the Custodian, or a Former Custodian (if applicable), on behalf of a former participant, beneficiary, or alternate payee in the plan who did not elect to have such a distribution paid directly to an eligible retirement plan in a direct rollover or to receive the distribution directly in accordance with the terms of the plan. This Agreement governs the Account established with the Custodian by the plan sponsor, or the Former Custodian (if applicable), including the plan sponsor’s, or Former Custodian’s (if applicable), direction with respect to the initial investment of the Account (“Initial Investment”) acting in the name of, on behalf of and for the benefit of the Account Owner for whom the direct rollover was made.
3. The Custodian is authorized and empowered to receive from the retirement plan in which the Account Owner was formerly a participant, or the Former Custodian (if applicable), the funds to be invested in the Account in the Initial Investment. Notwithstanding anything herein to the contrary, the Custodian has invested the funds in the Initial Investment as directed by the plan sponsor, or the Former Custodian (if applicable), and the provisions of this Agreement shall govern the investment of the Account until such time as the Account Owner or the Account Owner’s authorized agent shall direct the Custodian to invest such sums or assets in other investments as provided hereunder.
4. If the Initial Investment is in the Program, the provisions of Article X will g...
Automatic Rollovers. In the event of a mandatory distribution greater than $1,000 as provided by section 8.1, if the Participant does not elect to have such distribution paid directly to an eligible retirement plan specified by the Participant in a direct rollover or to receive the distribution directly in accordance with the provisions of this Article VIII, then the Plan Administrator will pay the distribution in a direct rollover to an individual retirement plan designated by the Plan Administrator.
Automatic Rollovers. Any distribution in excess of $1,000 shall be made by transferring the amount to be distributed to an individual retirement plan designated by the Administrator, unless the Participant or Beneficiary entitled to receive the distribution elects (1) to receive the distribution directly, or (2) to have the distribution paid directly to another Eligible Retirement Plan as described in this section.
Automatic Rollovers
