Common use of Available Forms of Distribution Clause in Contracts

Available Forms of Distribution. (a) If pursuant to Section 8.3, the Plan is a Profit Sharing Plan exempt from the Automatic Annuity Rules of Section 8.2, the normal form of distribution shall be a lump sum distribution. Unless specified otherwise in the Adoption Agreement, in lieu of the lump sum distribution, a Participant or Beneficiary may elect to receive installment payments payable monthly, quarterly, semi-annually or annually.