Common use of Deceased Participant's Nonforfeitable Accrued Clause in Contracts

Deceased Participant's Nonforfeitable Accrued. BENEFIT EXCEEDS $5,000. The Advisory Committee will direct the Trustee to pay the deceased Participant's Nonforfeitable Accrued Benefit at the time and in the form elected by the Participant or, if applicable by the Beneficiary, as permitted under this Article VI. In the absence of an election, the Advisory Committee will direct the Trustee to distribute the Participant's undistributed Nonforfeitable Accrued Benefit in a lump sum on the first distribution date following the close of the Plan Year in which the Participant's death occurs or, if later, the first distribution date following the date the Advisory Committee receives notification of or otherwise confirms the Participant's death. If the death benefit is payable to the Participant's surviving spouse in full, the surviving spouse, in addition to the distribution options provided in this Section 6.01(C), may elect distribution at any time or in any form this Article VI would permit for a Participant.

Deceased Participant's Nonforfeitable Accrued. BENEFIT EXCEEDS Benefit Exceeds $5,000. The Advisory Committee will direct the Trustee to pay distribute the deceased Participant's Nonforfeitable Accrued Benefit at the time and in the form method elected by the Participant or, if applicable by the Beneficiary, as permitted under this Article VI. In the absence of an election, election the Advisory Committee will direct the Trustee to distribute the Participant's undistributed Nonforfeitable Accrued Benefit in a lump sum on the first distribution date following the close of the Plan Year in which the Participant's death occurs or, if later, the first distribution date following the date the Advisory Committee receives notification of or otherwise confirms the Participant's death. If the death benefit is payable in full to the Participant's surviving spouse in fullspouse, the surviving spouse, in addition to the distribution options provided in this Section 6.01(C), may elect distribution at any time or in any form this Article VI would permit for a Participant.