Common use of Consent to Distribution Clause in Contracts

Consent to Distribution. Notwithstanding any other provision of the Plan, no benefit shall be distributed or commence to be distributed to a Participant or former Participant prior to his attainment of the later of age 62 or Retirement Age without his consent, unless the benefit is payable immediately under Section 5.04. Any such consent shall be valid only if given not more than 90 days prior to the Participant's or former Participant's Annuity Starting Date and after his receipt of the notice regarding benefits described in Section 5.09(a).

Appears in 3 contracts

Samples: Employee Savings Plan (Quanex Corp), Employee Savings Plan (Quanex Corp), 401(k) Plan Amendment and Restatement (Quanex Corp)

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Consent to Distribution. Notwithstanding any other provision of the Plan, no benefit shall be distributed or commence to be distributed to a Participant or former Participant prior to his attainment of the later of age 62 or Retirement Age 65 without his consent, unless the benefit is payable immediately under Section 5.04. Any such consent shall be valid only if given not more than 90 days prior to the Participant's ’s or former Participant's Annuity Starting ’s Benefit Commencement Date and after his receipt of the notice regarding benefits described in Section 5.09(a5.08(a).

Appears in 1 contract

Samples: 401(k) Savings Plan (Quanex Corp)

Consent to Distribution. Notwithstanding any other provision of the Plan, no benefit shall be distributed or commence to be distributed to a Participant or former Participant prior to his attainment of the later of age 62 or Retirement Age without his consent, unless the benefit is payable immediately under Section 5.04. Any such consent shall be valid only if given not more than 90 days prior to the Participant's ’s or former Participant's ’s Annuity Starting Date and after his receipt of the notice regarding benefits described in Section 5.09(a).

Appears in 1 contract

Samples: 401(k) Plan Amendment and Restatement (Quanex Corp)

Consent to Distribution. Notwithstanding any other provision of the Plan, no benefit shall be distributed or commence to be distributed to a Participant or former Participant prior to his attainment of the later of age 62 or Retirement Age without his consent, unless the benefit is payable immediately under Section 5.045.05. Any such consent shall be valid only if given not more than 90 days prior to the Participant's ’s or former Participant's ’s Annuity Starting Date and after his receipt of the notice regarding benefits described in Section 5.09(a5.10(a).

Appears in 1 contract

Samples: 401(k) Savings Plan (Quanex Corp)

Consent to Distribution. Notwithstanding any other provision of the Plan, no benefit shall be distributed or commence to be distributed to a Participant or former Participant prior to his attainment of the later of age 62 or Retirement Age without his consent, unless the benefit is payable immediately under Section 5.045.05. Any such consent shall be valid only if given not more than 90 days prior to the Participant's or former Participant's Annuity Starting Benefit Payment Date and after his receipt of the notice regarding benefits described in Section 5.09(a).

Appears in 1 contract

Samples: 401(k) Savings Plan Amendment and Restatement (Quanex Corp)

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Consent to Distribution. Notwithstanding any other provision of the Plan, no benefit shall be distributed or commence to be distributed to a Participant or former Participant prior to his attainment of the later of age 62 or Retirement Age without his consent, unless the benefit is payable immediately under Section 5.045.05. Any such consent shall be valid only if given not more than 90 days prior to the Participant's or former Participant's Annuity Starting Date and after his receipt of the notice regarding benefits described in Section 5.09(a5.10(a).

Appears in 1 contract

Samples: 401(k) Savings Plan Amendment and Restatement (Quanex Corp)

Consent to Distribution. Notwithstanding any other provision of the Plan, no benefit shall be distributed or commence to be distributed to a Participant or former Participant prior to his attainment of the later of age 62 or Retirement Age without his consent, unless the benefit is payable immediately under Section 5.04. Any such consent shall be valid only if given not more than 90 days prior to the Participant's or former Participant's Annuity Starting Benefit Payment Date and after his receipt of the notice regarding benefits described in Section 5.09(a5.08(a).

Appears in 1 contract

Samples: Hourly Bargaining Unit Employees Savings Plan (Quanex Corp)

Consent to Distribution. Notwithstanding any other provision of the Plan, no benefit shall be distributed or commence to be distributed to a Participant or former Participant prior to his attainment of the later of age 62 or Retirement Age without his consent, unless the benefit is payable immediately under Section 5.04. Any such consent shall be valid only if given not more than 90 days prior to the Participant's ’s or former Participant's ’s Annuity Starting Date and after his receipt of the notice regarding benefits described in Section 5.09(a5.08(a).

Appears in 1 contract

Samples: Employee Savings Plan (Quanex Corp)

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