Commencement of Distributions. Distribution of benefits to Participant under the Plan shall commence no earlier than December 15, 2004, provided, however, that distribution shall be accelerated in the event Employee separates from service of Employer for any reason prior to December 15, 2004. In such event, Plan benefits shall commence within 60 days after such separation from service. Notwithstanding the foregoing, if Participant dies prior to the time his benefits under this Plan have been distributed in full, any remaining portion of benefits yet to be distributed under this Plan shall be distributed as soon as administratively practicable to Participant's estate or such other beneficiary as designated by Participant on a Beneficiary Designation Form.
Commencement of Distributions. Notwithstanding any provision ----------------------------- of this Agreement to the contrary, distribution of the Account shall commence no later than the "Required Beginning Date". For any Employee who attained age 70-1/2 after December 31, 1996 or before January 1, 1988, the Required Beginning Date is the April 1 following the calendar year in which the Employee attains age 70-1/2 or terminates employment, whichever is the later. For any Employee who attained age 70-1/2 in 1988 and had not retired by January 1, 1989, the Required Beginning Date is April 1, 1990. For any other Employee who attained age 70 and 1/2 after December 31, 1987 and before January 1, 1997, the Required Beginning Date is the April 1 following the calendar year in which the Employee attains age 70-1/2 regardless of whether the Employee has then retired. Notwithstanding the preceding paragraph, effective January 1, 1997, the Required Beginning Date for an Employee (other than an Employee who is a five percent owner, as defined in Section 416 of the Code, of the Employer with respect to the year in which the Employee attains age 70-1/2) is the April 1 following the calendar year in which the Employee attains age 70-1/2 or retires from the Employer, whichever is later. [If an Employee is still employed by the Employer after January 1, 1997, and he is receiving required distributions in accordance with the preceding paragraph but would not be required to receive distributions under the preceding sentence, the Employee may file an election with the Custodian to cease minimum required distributions under the preceding paragraph; and such Employee may resume distributions by filing a written request with the Custodian under Section 5.1 above at the time required by the preceding sentence. In the case of an Account which contains Direct Contributions, the election in the preceding sentence will apply only if the Employer consents thereto in a written consent filed with the Custodian.]
Commencement of Distributions. (1) Each lump sum distribution and the first distribution in a series of installment payments (if applicable) shall commence as elected in (A), (B) or (C) below:
(A) þ Monthly on the 15th day of the month which day next follows the applicable triggering event described in 1.07(a).
(B) ¨ Quarterly on the _____ day of the following months ____________, ______________, _______________, or____________ (list one month in each calendar quarter) which day next follows the applicable triggering event described in 1.07(a).
(C) ¨ Annually on the _____ day of ____________ (month) which day next follows the applicable triggering event described in 1.07(a).
Commencement of Distributions. (1) Each lump sum distribution and the first distribution in a series of installment payments (if applicable) shall commence as elected in (A), (B) or (C) below:
(A) ¨ Monthly on the day of the month which day next follows the applicable triggering event described in 1.07(a).
(B) ¨ Quarterly on the day of the following months , , , or (list one month in each calendar quarter) which day next follows the applicable triggering event described in 1.07(a).
(C) x Annually on the 1st day of a calendar month which day next follows the applicable triggering event described in 1.07(a).
Commencement of Distributions. Notwithstanding any other provision of the Plan, any benefit payable to a Member shall commence no later than the April 1st of the calendar year following the calendar year in which such Member attains age 70 ½, and shall be paid, in accordance with the Regulations and as provided in the Administrative Document, over the life of such Member or over the joint lives of such Member and his Beneficiary, or over a period not extending beyond the life expectancy of such Member or the joint life expectancies of such Member and his Beneficiary.
Commencement of Distributions. All distributions shall be made or commenced to be made as soon as practicable after the valuation date coincident with or next following the occurrence of one of the distribution events described in this ARTICLE VIII. Upon written notice to the Committee no later than the end of the calendar month following the month in which termination occurs, a participant (or, in the case of death, his beneficiary) entitled to a lump sum payment may make an irrevocable election to receive the value of his distribution on January 31st of the next succeeding calendar year. Alternatively, the participant may choose not to withdraw his benefits when one of the distribution events occurs,and later elect to have the distribution made upon written notice before a subsequent valuation date. However, only a full and complete distribution of his benefits will be allowed whether the participant withdraws his benefits at the time a distribution event occurs or at some later date. No partial withdrawals shall be permitted.
Commencement of Distributions. Notwithstanding any provision of this Agreement to the contrary, distribution of the Account shall commence no later than the "Required Beginning Date". For any Employee who attained age 70-1/2 prior to January 1, 1988, the Required Beginning Date is the April 1 following the calendar year in which the Employee attains age 70-1/2 or terminates employment, whichever is the later. For any employee who attained age 70-1/2 in 1988 and had not retired by January 1, 1989, the Required Beginning Date is April 1, 1990. For any other Employee who attained age 70 and 1/2 after December 31, 1987, the Required Beginning Date is the April 1 following the calendar year in which the Employee attains age 70-1/2 regardless of whether the Employee has then retired.
Commencement of Distributions. The Trustee shall, at the direction ----------------------------- of the Administrator, distribute a Participant's vested Account balance in accordance with the provisions of this Article X. The Administrator's direction shall include the amounts, or method of calculating the amounts, to be distributed on given dates and such other information required by the Trustee. In the event distribution is to be made in the form of an annuity contract, the Administrator shall also direct the Trustee with regard to the purchase of such a contract, including the selection of an appropriate insurance carrier. Except as otherwise provided in this Article X, distributions of a Participant's vested Account balance shall commence within 60 days after the close of the Plan Year during which occurs the later of (a) the Participant's Normal Retirement Date or (b) the earlier of (i) the Participant's separation from Service or (ii) the end of his or her First Required Distribution Year. Payment of benefits may, at the discretion of the Trustee, be paid directly to the Participant or to the Administrator, as payee agent. If the Participant's vested Account balance (exclusive of his or her Rollover Account and Deductible Voluntary Contribution Account) is greater than $3,500, written consent of the Participant is required for any earlier distribution. A Participant may file an election with the Administrator to request that distributions commence in accordance with one of the following options provided that the distribution shall otherwise comply with the requirements of the Plan (including, but not limited to, Section 10.03):
(A) Distributions commencing before the Participant's Normal Retirement Date if the Participant is Disabled or experiences a separation from Service.
(B) Distributions commencing after the normal time of distribution described above; provided, however, that any such deferred distribution must commence no later than 60 days after the end of the Participant's First Required Distribution Year.
Commencement of Distributions. All distributions shall be made or commenced to be made as soon as practicable after the valuation date coincident with or next following the occurrence of one of the distribution events described in this ARTICLE VIII. Upon written notice to the Committee no later than the end of the calendar month following the month in which termination occurs, a participant (or, in the case of death, his or her beneficiary) entitled to a lump sum payment may make an irrevocable election to receive the value of his or her distribution on January 31st of the next succeeding calendar year. Alternatively, the participant may choose not to withdraw his or her benefits when one of the distribution events occurs, and later elect to have the distribution made upon written notice before a subsequent valuation date. However, only a full and complete distribution of his or her benefits will be allowed whether the participant withdraws his or her benefits at the time a distribution event occurs or at some later date. No partial withdrawals shall be permitted. Notwithstanding, should the value of a participant’s account in the Stock Fund not exceed five thousand dollars ($5,000.00), a distribution shall be made to the participant (or his or her beneficiary in case of death) without any requirement that the participant or his/her spouse consent to the distribution.
Commencement of Distributions. The Participant’s entire interest will be distributed, or begin to be distributed, to the Participant no later than the Participant’s Required Beginning Date.
