Common use of Coordination with Minimum Distribution Requirements Previously in Effect Clause in Contracts

Coordination with Minimum Distribution Requirements Previously in Effect. If the Adoption Agreement specifies an effective date of this Article that is earlier than calendar years beginning with the 2003 calendar year, required minimum distributions for 2002 under this Article will be determined as follows. If the total amount of 2002 required minimum distributions under the Plan made to the distributee prior to the effective date of this Article equals or exceeds the required minimum distributions determined under this Article, then no additional distributions will be required to be made for 2002 on or after such date to the distributee. If the total amount of 2002 required minimum distributions under the Plan made to the distributee prior to the effective date of this Article are less than the amount determined under this Article, then required minimum distributions for 2002 on and after such date will be determined so that the total amount of required minimum distributions for 2002 made to the distributee will be the amount determined under this Article.

Appears in 8 contracts

Samples: Prototype Defined Contribution Plan (FNB United Corp.), Prototype Defined Contribution Plan (United Community Bancorp), Nonstandardized Adoption Agreement (Banctrust Financial Group Inc)

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Coordination with Minimum Distribution Requirements Previously in Effect. If the Adoption Agreement specifies an effective date of this Article Section that is earlier than calendar years beginning with the 2003 calendar year, then required minimum distributions for 2002 under this Article Section will be determined as follows. : If the total amount of 2002 required minimum distributions under the Plan made to the distributee prior to the effective date of this Article Section equals or exceeds the required minimum distributions determined under this ArticleSection, then no additional distributions will be required to be made for 2002 on or after such date to the distributee. If the total amount of 2002 required minimum distributions under the Plan plan made to the distributee prior to the effective date of this Article are Section is less than the amount determined under this ArticleSection, then required minimum distributions for 2002 on and after such date will be determined so that the total amount of required minimum distributions for 2002 made to the distributee will be the amount determined under this ArticleSection.

Appears in 2 contracts

Samples: Non Standardized Prototype Adoption Agreement (Michaels Stores Inc), Littelfuse Inc /De

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Coordination with Minimum Distribution Requirements Previously in Effect. If the Adoption Agreement adoption agreement supplement specifies an effective date of this Article that is earlier than calendar years beginning with the 2003 calendar year, required minimum distributions for 2002 under this Article will be determined as follows. : If the total amount of 2002 required minimum distributions under the Plan made to the distributee prior to the effective date of this Article equals or exceeds the required minimum distributions determined under this Article, then no additional distributions will be required to be made for 2002 on or after such date to the distributee. If the total amount of 2002 required minimum distributions under the Plan made to the distributee prior to the effective date of this Article are is less than the amount determined under this Article, then required minimum distributions for 2002 on and after such date will be determined so that the total amount of required minimum distributions for 2002 made to the distributee will be the amount determined under this Article.

Appears in 1 contract

Samples: Southwest Community Bancorp

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