Common use of Direct Rollovers Clause in Contracts

Direct Rollovers. (a) Notwithstanding any provision of this Agreement to the contrary that would otherwise limit a distributee's election under this section, a distributee may elect, at the time and in the manner prescribed by the Custodian, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover. (b) For purposes of this section, the following terms have the definitions given. (i) Eligible rollover distribution: An eligible rollover distribution is any withdrawal or distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover distribution does not include: any withdrawal or distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee's designated beneficiary, or for a specified period of ten years or more; any withdrawal or distribution to the extent such distribution is required under Code Section 401(a)(9); the portion of any withdrawal or distribution that is not includible in gross income (except to the extent provided in the Code); and, any hardship withdrawal under Section 5.2(a)(iv). (ii) Eligible retirement plan: An eligible retirement plan is an individual retirement account described in Code Section 408(a), a Xxxx individual retirement account described in Code Section 408A, an individual retirement annuity described in Code Section 408(b), or an arrangement described in Code Section 403(b), that accepts the distributee’s eligible rollover distribution. In addition, an eligible retirement plan includes an employer plan that is qualified under Code Section 401(a) with a trust that is tax-exempt under Code Section 501(a) or a plan maintained under Code Section 457 by a governmental employer. Any arrangement described in Code Section 403(b), 401(a) or 457 shall be an eligible retirement plan only if the distributee is a participant in such plan and such plan permits the acceptance of direct rollovers. In the case of a distribution to a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order), a direct rollover is payable only to an individual retirement account or individual retirement annuity (IRA) that has been established on behalf of the Beneficiary as an inherited IRA (within the meaning of Code Section 408(d)(3)(C)). (iii) Distributee: A distributee includes the Employee. In addition, the Employee's surviving spouse and the employee's spouse or former spouse who is the alternate payee under a qualified domestic relations order, as defined in Code Section 414(p) (if applicable), are distributees with regard to the interest of the spouse or former spouse. To the extent provided in (ii) above, a distribute also includes a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order). (iv) Direct rollover: A direct rollover is a payment from the Employee's Account to the eligible retirement plan specified by the distributee. (c) Neither the Custodian, the Fund Distributor nor any Fund hereunder (or any entity or person affiliated with the Custodian, Fund Distributor or a Fund) will have any responsibility to determine whether such eligible retirement plan meets the requirements of Code Section 401(a), 403(b), 408 or 457 whether the direct rollover will constitute a tax-free transaction.

Direct Rollovers. (a) Notwithstanding any provision of this Agreement to the contrary that would otherwise limit a distributee's election under this section, a distributee may elect, at the time and in the manner prescribed by the Custodian, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover. (b) For purposes of this section, the following terms have the definitions given. (i) Eligible rollover distribution: An eligible rollover distribution is any withdrawal or distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover distribution does not include: any withdrawal or distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee's designated beneficiary, or for a specified period of ten years or more; any withdrawal or distribution to the extent such distribution is required under Code Section 401(a)(9); the portion of any withdrawal or distribution that is not includible in gross income (except to the extent provided in the Code); and, any hardship withdrawal under Section 5.2(a)(iv). (ii) Eligible retirement plan: An eligible retirement plan is an individual retirement account described in Code Section 408(a), a Xxxx individual retirement account described in Code Section 408A, an individual retirement annuity described in Code Section 408(b), or an arrangement described in Code Section 403(b), that accepts the distributee’s eligible rollover distribution. In addition, an eligible retirement plan includes an employer plan that is qualified under Code Section 401(a) with a trust that is tax-exempt under Code Section 501(a) or a plan maintained under Code Section 457 by a governmental employer. Any arrangement described in Code Section 403(b), 401(a) or 457 shall be an eligible retirement plan only if the distributee is a participant in such plan and such plan permits the acceptance of direct rollovers. In the case of a distribution to a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order), a direct rollover is payable only to an individual retirement account or individual retirement annuity (IRA) that has been established on behalf of the Beneficiary as an inherited IRA (within the meaning of Code Section 408(d)(3)(C)). (iii) Distributee: A distributee includes the Employee. In addition, the Employee's surviving spouse and the employee's spouse or former spouse who is the alternate payee under a qualified domestic relations order, as defined in Code Section 414(p) (if applicable), are distributees with regard to the interest of the spouse or former spouse. To the extent provided in (ii) above, a distribute distributee also includes a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order). (iv) Direct rollover: A direct rollover is a payment from the Employee's Account to the eligible retirement plan specified by the distributee. (c) Neither the Custodian, the Fund Distributor nor any Fund hereunder (or any entity or person affiliated with the Custodian, Fund Distributor or a Fund) will have any responsibility to determine whether such eligible retirement plan meets the requirements of Code Section 401(a), 403(b), 408 or 457 whether the direct rollover will constitute a tax-free transaction.

Direct Rollovers. (a) Notwithstanding any provision of this Agreement to the contrary that would otherwise oth- erwise limit a distributee's ’s election under this section, a distributee may elect, at the time and in the manner prescribed by the Custodian, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified speci- fied by the distributee in a direct rollover. (b) For purposes of this section, the following terms have the definitions given. (i) Eligible rollover distribution: An eligible rollover distribution is any withdrawal with- drawal or distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover distribution does not include: any hardship withdrawal under Section 5.2(a) (iv); any withdrawal or distribution that is one of a series of substantially equal periodic payments (not less frequently fre- quently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee's distrib- utee’s designated beneficiary, or for a specified period of ten years or more; any withdrawal or distribution to the extent such distribution is required under Code Section 401(a)(9); the portion of any withdrawal or distribution that is not includible in gross income (except to the extent provided in the Code); and, or any hardship other withdrawal or any other withdrawal or distribution here- under Section 5.2(a)(iv)that is not treated as an eligible rollover distribution under the Code. (ii) Eligible retirement plan: An eligible retirement plan is an individual retirement retire- ment account described in Code Section 408(a), a Xxxx individual retirement account described in Code Section 408A, an individual retirement annuity described in Code Section 408(b), or an arrangement described in Code Section 403(b), that accepts the distributee’s eligible rollover distributiondistribu- tion. In addition, an eligible retirement plan includes an employer plan that is qualified under Code Section 401(a) with a trust that is tax-exempt under Code Section 501(a) or a plan maintained under Code Section 457 by a governmental governmen- tal employer. Any arrangement described in Code Section 403(b), 401(a) or 457 shall be an eligible retirement plan only if the distributee is a participant in such plan and such plan permits the acceptance of direct rollovers. In the case of a distribution to a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order), a direct rollover is payable only to an individual retirement account or individual retirement annuity (IRA) that has been established on behalf of the Beneficiary as an inherited IRA (within the meaning of Code Section 408(d)(3)(C)). (iii) Distributee: A distributee includes the Employee. In addition, the Employee's ’s surviving spouse and the employee's ’s spouse or former spouse who is the alternate payee under a qualified domestic relations order, as defined in Code Section 414(p) (if applicable), are distributees with regard to the interest of the spouse or former spouse. To the extent provided in (ii) above, a distribute also includes a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order). (iv) Direct rollover: A direct rollover is a payment from the Employee's ’s Account to the eligible retirement plan specified by the distributee. (c) Neither the Custodian, the Fund Distributor Custodian nor any Fund hereunder (or any entity or person affiliated with the Custodian, Fund Distributor Custodian or a Fund) will have any responsibility to determine whether such eligible retirement plan meets the requirements of Code Section 401(a), 403(b), 408 or 457 or whether the direct rollover will constitute a tax-free transaction.

Direct Rollovers. (a) Notwithstanding any provision of this Agreement to the contrary that would otherwise limit a distributee's ’s election under this section, a distributee may elect, at the time and in the manner prescribed by the Custodian, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover. (b) For purposes of this section, the following terms have the definitions given. (i) Eligible rollover distribution: An eligible rollover distribution is any withdrawal or distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover distribution does not include: any withdrawal or distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee's ’s designated beneficiary, or for a specified period of ten years or more; any withdrawal or distribution to the extent such distribution is required under Code Section 401(a)(9); the portion of any withdrawal or distribution that is not includible in gross income (except to the extent provided in the Code); and, any hardship withdrawal under Section 5.2(a)(iv5.2(a)(viii). (ii) Eligible retirement plan: An eligible retirement plan is an individual retirement account described in Code Section 408(a), a Xxxx individual retirement account described in Code Section 408A, an individual retirement annuity described in Code Section 408(b), or an arrangement described in Code Section 403(b), that accepts the distributee’s eligible rollover distribution. In addition, an eligible retirement plan includes an employer plan that is qualified under Code Section 401(a) with a trust that is tax-exempt under Code Section 501(a) or a plan maintained under Code Section 457 by a governmental employer. Any arrangement described in Code Section 403(b), 401(a) or 457 shall be an eligible retirement plan only if the distributee is a participant in such plan and such plan permits the acceptance of direct rollovers. In the case of a distribution to a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order), a direct rollover is payable only to an individual retirement account or individual retirement annuity (IRAXXX) that has been established on behalf of the Beneficiary as an inherited IRA XXX (within the meaning of Code Section 408(d)(3)(C408(d) (3)(C)). (iii) Distributee: A distributee includes the Employee. In addition, the Employee's ’s surviving spouse and the employee's ’s spouse or former spouse who is the alternate payee under a qualified domestic relations order, as defined in Code Section 414(p) (if applicable), are distributees with regard to the interest of the spouse or former spouse. To the extent provided in (ii) above, a distribute also includes a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order). (iv) Direct rollover: A direct rollover is a payment from the Employee's ’s Account to the eligible retirement plan specified by the distributee. (c) Neither the Custodian, the Fund Distributor nor any Fund hereunder (or any entity or person affiliated with the Custodian, Fund Distributor or a Fund) will have any responsibility to determine whether such eligible retirement plan meets the requirements of Code Section 401(a), 403(b), 408 or 457 , as applicable, or whether the direct rollover will constitute a tax-free transaction.

Direct Rollovers. (a) This Section 6.12 applies to distributions made on or after January 1, 1993. Notwithstanding any provision of this Agreement the Plan to the contrary that would otherwise limit a distributee's election under this sectionparagraph, a distributee may elect, at the time and in the manner prescribed by the CustodianAdministrator, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover. (b) . For purposes of this section, paragraph the following terms have the definitions given.shall apply: (ia) Eligible rollover distribution: An eligible rollover distribution is any withdrawal or distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover distribution does not include: any withdrawal or distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee's designated beneficiary, or or for a specified period of ten years or more; any withdrawal or distribution to the extent such distribution is required under Code Section 401(a)(9)401 (a) (9) of the Code; and the portion of any withdrawal or distribution that is not includible in gross income (except determined without regard to the extent provided in the Code); and, any hardship withdrawal under Section 5.2(a)(ivexclusion for net unrealized appreciation with respect to employer securities). (iib) Eligible retirement plan: An eligible retirement plan is an individual retirement account described in Code Section 408(a), a Xxxx individual retirement account described in Code Section 408A408 (a) of the Code, an individual retirement annuity described in Code Section 408(b)408 (b) of the Code, an annuity plan described in Section 403 (a) of the Code, or an arrangement a qualified trust described in Code Section 403(b)401 (a) of the Code, that accepts the distributee’s 's eligible rollover distribution. In additionHowever, in the case of an eligible rollover distribution to the surviving Spouse, an eligible retirement plan includes an employer plan that is qualified under Code Section 401(a) with a trust that is tax-exempt under Code Section 501(a) or a plan maintained under Code Section 457 by a governmental employer. Any arrangement described in Code Section 403(b), 401(a) or 457 shall be an eligible retirement plan only if the distributee is a participant in such plan and such plan permits the acceptance of direct rollovers. In the case of a distribution to a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order), a direct rollover is payable only to an individual retirement account or individual retirement annuity (IRA) that has been established on behalf of the Beneficiary as an inherited IRA (within the meaning of Code Section 408(d)(3)(C))annuity. (iiic) Distributee: A distributee includes a Participant or the Employee. In addition, the EmployeeParticipant's surviving spouse Spouse and the employeeParticipant's spouse Spouse or former spouse Spouse who is the alternate payee under a qualified domestic relations order, as defined in Code Section 414(p414 (p) (if applicable)of the Code, are as distributees with regard to the interest of the spouse Spouse or former spouse. To the extent provided in (ii) above, a distribute also includes a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order)Spouse. (ivd) Direct rollover: A direct rollover is a payment from by the Employee's Account Plan to the eligible retirement plan specified by the distributee. (c) Neither the Custodian, the Fund Distributor nor any Fund hereunder (or any entity or person affiliated with the Custodian, Fund Distributor or a Fund) will have any responsibility to determine whether such eligible retirement plan meets the requirements of Code Section 401(a), 403(b), 408 or 457 whether the direct rollover will constitute a tax-free transaction.

Direct Rollovers. (a) Notwithstanding any provision of this Agreement the Plan to the contrary that would otherwise limit a distributee's Distributee’s election under this sectionArticle 6, a distributee Distributee may elect, elect to have all or any portion of an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan specified by the Distributee. The election regarding a direct rollover shall be made at the time and in the manner prescribed by the CustodianCommittee. For purposes of this section only: (a) Distributee shall mean a Participant, to have any portion former Participant, a Beneficiary who is the Spouse of a Participant or former Participant, or an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in “alternate payee” as defined under Code Section 414(p), and effective for distributions made on or after January 1, 2007, a direct rollovernon-Spouse Beneficiary of a Participant or former Participant. (b) For purposes of this section, the following terms have the definitions given. (i) Eligible rollover distribution: An eligible rollover distribution is Rollover Distribution shall mean any withdrawal or distribution of all or any portion of the balance to the credit of the distributeeDistributee. However, except that an eligible rollover distribution does Eligible Rollover Distribution shall not include: (1) any withdrawal or distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee Distributee or the joint lives (or joint life expectancies) of the distributee Distributee and the distributee's designated beneficiary, or Distributee’s Beneficiary; (2) any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for a specified period of ten 10 years or more; (3) any withdrawal or distribution to the extent such the distribution is required under Code Section 401(a)(9); the (4) any portion of any withdrawal or distribution that is not includible in gross income (except income, as determined without regard to the extent provided in the Code)exclusion for net unrealized appreciation of employer securities; and, or (5) any hardship withdrawal under Section 5.2(a)(iv)distribution on account of hardship. (iic) Eligible retirement planRetirement Plan shall mean: An eligible retirement plan is (1) an individual retirement account described in Code Section 408(a), a Xxxx individual retirement account described in Code Section 408A, ; (2) an individual retirement annuity described in Code Section 408(b), or ; (3) a Rxxx XXX described in Code Section 408A; (4) an arrangement annuity plan described in Code Section 403(a); (5) a qualified trust described in Code Section 401(a); (6) an annuity contract described in Code Section 403(b), that accepts the distributee’s eligible rollover distribution. In addition, ) and (7) an eligible retirement plan includes an employer plan that is qualified under Code Section 401(a457(b) with a trust that which is tax-exempt under Code Section 501(a) or a plan maintained under Code Section 457 by a governmental employerstate, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state and which agrees to separately account for amounts transferred into such plan from the Plan. Any For Distributees who are non-Spouse Beneficiaries, an Eligible Retirement Plan means only an arrangement described in Code Section 403(bsubsections (1), 401(a(2) or 457 shall be an eligible retirement plan only if the distributee is a participant in such plan and such plan permits the acceptance of direct rollovers. In the case of a distribution to a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order), a direct rollover is payable only to an individual retirement account or individual retirement annuity (IRA3) that has been established on behalf of the Beneficiary is treated as an inherited IRA (within the meaning of IXX pursuant to Code Section 408(d)(3)(C)402(c)(11). (iii) Distributee: A distributee includes the Employee. In addition, the Employee's surviving spouse and the employee's spouse or former spouse who is the alternate payee under a qualified domestic relations order, as defined in Code Section 414(p) (if applicable), are distributees with regard to the interest of the spouse or former spouse. To the extent provided in (ii) above, a distribute also includes a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order). (iv) Direct rollover: A direct rollover is a payment from the Employee's Account to the eligible retirement plan specified by the distributee. (c) Neither the Custodian, the Fund Distributor nor any Fund hereunder (or any entity or person affiliated with the Custodian, Fund Distributor or a Fund) will have any responsibility to determine whether such eligible retirement plan meets the requirements of Code Section 401(a), 403(b), 408 or 457 whether the direct rollover will constitute a tax-free transaction.

Direct Rollovers. (a) Notwithstanding any provision of this Agreement to the contrary that would otherwise limit a distributee's election under this section, a distributee may elect, at the time and in the manner prescribed by the Custodian, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover. (b) For purposes of this section, the following terms have the definitions given. (i) Eligible rollover distribution: An eligible rollover distribution is any withdrawal or distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover distribution does not include: any withdrawal or distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee's designated beneficiary, or for a specified period of ten years or more; any withdrawal or distribution to the extent such distribution is required under Code Section 401(a)(9); the portion of any withdrawal or distribution that is not includible in gross income (except to the extent provided in the Code); and, any hardship withdrawal under Section 5.2(a)(iv). (ii) Eligible retirement plan: An eligible retirement plan is an individual retirement account described in Code Section 408(a), a Xxxx individual retirement account described in Code Section 408A, an individual retirement annuity described in Code Section 408(b), or an arrangement described in Code Section 403(b), that accepts the distributee’s eligible rollover distribution. In addition, an eligible retirement plan includes an employer plan that is qualified under Code Section 401(a) with a trust that is tax-tax- exempt under Code Section 501(a) or a plan maintained under Code Section 457 by a governmental employer. Any arrangement described in Code Section 403(b), 401(a) or 457 shall be an eligible retirement plan only if the distributee is a participant in such plan and such plan permits the acceptance of direct rollovers. In the case of a distribution to a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order), a direct rollover is payable only to an individual retirement account or individual retirement annuity (IRA) that has been established on behalf of the Beneficiary as an inherited IRA (within the meaning of Code Section 408(d)(3)(C)). (iii) Distributee: A distributee includes the Employee. In addition, the Employee's surviving spouse and the employee's spouse or former spouse who is the alternate payee under a qualified domestic relations order, as defined in Code Section 414(p) (if applicable), are distributees with regard to the interest of the spouse or former spouse. To the extent provided in (ii) above, a distribute also includes a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order). (iv) Direct rollover: A direct rollover is a payment from the Employee's Account to the eligible retirement plan specified by the distributee. (c) Neither the Custodian, the Fund Distributor nor any Fund hereunder (or any entity or person affiliated with the Custodian, Fund Distributor or a Fund) will have any responsibility to determine whether such eligible retirement plan meets the requirements of Code Section 401(a), 403(b), 408 or 457 whether the direct rollover will constitute a tax-free transaction.

Direct Rollovers. (a) The provisions of this Paragraph shall be effective January 1, 1993 and apply to distributions after January 1, 1993. Notwithstanding any provision of this Agreement Plan to the contrary that would otherwise limit a distributee's election under this sectioncontrary, a distributee may elect, at the time and in the manner prescribed by the Custodian, elect to have any portion of an eligible rollover distribution paid directly to an eligible retirement retire-ment plan specified by the distributee in a direct rollover.. The Administrative Committee may prescribe the time and manner in which this election is made. As used in this Paragraph, "eligible rollover distribution", "eligible retirement plan", "distributee" and "direct rollover" shall mean: (b) For purposes of this section, the following terms have the definitions given. (ia) Eligible rollover distribution: An eligible rollover distribution " is any withdrawal or distribution of all or any portion of the balance to the credit of the distributee. However, except that an eligible rollover distribution does shall not include: any withdrawal or : (i) Any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectanciesexpec-tancies) of the distributee and the distributee's designated beneficiary, or for a specified period of ten (10) years or more; any withdrawal or ; (ii) Any distribution to the extent such distribution is required under Code Section 401(a)(9); the or (iii) The portion of any withdrawal or distribution that is not includible in gross income (except determined without regard to the extent provided in the Code); and, any hardship withdrawal under Section 5.2(a)(iv)exclusion for net unrealized appreciation with respect to employer securities. (iib) Eligible retirement plan: " is: (i) An eligible retirement plan is an individual retirement account (described in Code Section 408(a), a Xxxx individual retirement account described in Code Section 408A, an ) or individual retirement annuity (described in Code Section 408(b), or an arrangement ); or (ii) An annuity plan (described in Code Section 403(b403(a), ); or (iii) A qualified trust (described in Code Section 401(a)) that accepts the distributee’s eligible rollover distribution. In additionHowever, in the case of an eligible rollover distribution to a surviving spouse, eligible retirement plan includes shall mean only the items in (i) above. (iv) Beginning January 1, 2002, an employer plan that is qualified under Code Section 401(a) with a trust that is tax-exempt under Code Section 501(a) or a plan maintained under Code Section 457 by a governmental employer. Any arrangement annuity contract described in Code Section 403(b), 401(a) or 457 shall be and an eligible retirement plan only if the distributee is a participant in such plan and such plan permits the acceptance of direct rollovers. In the case of a distribution to a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order), a direct rollover is payable only to an individual retirement account or individual retirement annuity (IRA) that has been established on behalf of the Beneficiary as an inherited IRA (within the meaning of Code Section 408(d)(3)(C)). (iii) Distributee: A distributee includes the Employee. In addition, the Employee's surviving spouse and the employee's spouse or former spouse who is the alternate payee under a qualified domestic relations order, as defined described in Code Section 414(p457(b) (if applicable)which is maintained by a state, are distributees with regard to the interest political subdivision of the spouse or former spouse. To the extent provided in (ii) abovea state, a distribute also includes a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order). (iv) Direct rollover: A direct rollover is a payment from the Employee's Account to the eligible retirement plan specified by the distributee. (c) Neither the Custodian, the Fund Distributor nor any Fund hereunder (or any entity agency or person affiliated with the Custodian, Fund Distributor instrumentality of a state or political subdivision of a Fund) will have any responsibility state and which agrees to determine whether separately account for amounts transferred into such eligible retirement plan meets the requirements of Code Section 401(a), 403(b), 408 or 457 whether the direct rollover will constitute a tax-free transactionfrom this Plan.

Direct Rollovers. (a) Notwithstanding any provision At the written request of this Agreement to the contrary that would otherwise limit a distributee's election under this sectionParticipant, a distributee may electsurviving spouse of a Participant, at a spouse or former spouse of a Participant that is an alternate payee under a qualified domestic relations order as defined in section 414(p) of the time Code, or a designated beneficiary (referred to as the “distributee”) and in upon receipt of the manner prescribed written direction of the Committee or its designee, the Trustee shall effectuate a direct rollover distribution of the amount requested by the Custodiandistributee, to have any portion in accordance with section 401(a)(31) of an eligible rollover distribution paid directly the Code, to an eligible retirement plan specified (as defined in section 402(c)(8)(B) of the Code, including, to the extent permitted by the distributee law, a Xxxx XXX described in Code section 408A) provided, however, that with respect to a direct rollover. (brollover distribution made on behalf of a non-spouse designated beneficiary, such direct rollover distribution shall only be made to an individual retirement account described in Code section 408(a) For purposes or an individual retirement annuity described in Code section 408(b) that is established for the purpose of this sectionreceiving the distribution on behalf of such beneficiary. Such amount may constitute all or any whole percent of any distribution from the Plan otherwise to be made to the distributee, the following terms have the definitions given. (i) Eligible provided that such distribution constitutes an “eligible rollover distribution: ” as defined in section 402(c) of the Code and the regulations and other guidance issued thereunder. An eligible rollover distribution is any withdrawal or distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover distribution does not include: any withdrawal or distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectanciesexpectancy) of the distributee and the distributee's ’s designated beneficiary, or for a specified period of ten years or more; any withdrawal or distribution to the extent such distribution is required under Code Section section 401(a)(9); the portion of any withdrawal or distribution that is not includible in gross income (except to the extent provided in the Code); and, and any hardship withdrawal withdrawals under Section 5.2(a)(iv5.01. All direct rollover distributions shall be made in accordance with the following Subparagraphs (b) through (g). (iib) Eligible retirement plan: An eligible retirement plan is an individual retirement account described in Code Section 408(a), A distributee (other than a Xxxx individual retirement account described in Code Section 408A, an individual retirement annuity described in Code Section 408(b), or an arrangement described in Code Section 403(b), that accepts the distributee’s eligible rollover distribution. In addition, an eligible retirement plan includes an employer plan that is qualified under Code Section 401(anon-spouse designated beneficiary) with a trust that is tax-exempt under Code Section 501(a) or a plan maintained under Code Section 457 by a governmental employer. Any arrangement described in Code Section 403(b), 401(a) or 457 shall be an eligible retirement plan only if the distributee is a participant in such plan and such plan permits the acceptance of direct rollovers. In the case of a distribution may elect to a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order), have a direct rollover is payable distribution apportioned among two eligible retirement plans. (c) Direct rollover distributions shall be made in cash, in accordance with such forms and procedures as may be established by the Committee or its designee. (d) No direct rollover distribution shall be made unless the distributee furnishes the Committee or its designee with such information as the Committee or its designee shall require and deems to be sufficient. (e) A distributee (other than a non-spouse designated beneficiary) may elect to divide an eligible rollover distribution into two components, with one portion paid as a direct rollover distribution and the remainder paid to the distributee. (f) Notwithstanding the foregoing provisions of this Section, a distributee may elect a rollover of after-tax contributions only to an individual retirement account or individual retirement annuity described in sections 408(a) or (IRAb) that has been established on behalf of the Beneficiary as Code, a qualified defined contribution plan described in sections 401(a) or 403(a) of the Code, or an inherited IRA (within annuity contract described in section 403(b) of the meaning Code, provided that any such qualified plan or annuity contract agrees to separately account for amounts so transferred, including separately accounting for the portion of Code Section 408(d)(3)(C))a distribution which is includible in gross income and the portion of a distribution which is not includible in gross income. (iiig) Distributee: A distributee includes Notwithstanding the Employee. In additionforegoing provisions of this Section, a direct rollover of a distribution from a Xxxx Savings Account under the Employee's surviving spouse Plan shall only be made to another Xxxx elective deferral account under an applicable retirement plan described in section 402A(e)(1) of the Code or to a Xxxx XXX described in section 408A of the Code, and the employee's spouse or former spouse who is the alternate payee under a qualified domestic relations order, as defined in Code Section 414(p) (if applicable), are distributees with regard only to the interest extent the rollover is permitted under the rules of section 402(c) of the spouse or former spouse. To the extent provided in (ii) above, a distribute also includes a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order)Code. (iv) Direct rollover: A direct rollover is a payment from the Employee's Account to the eligible retirement plan specified by the distributee. (c) Neither the Custodian, the Fund Distributor nor any Fund hereunder (or any entity or person affiliated with the Custodian, Fund Distributor or a Fund) will have any responsibility to determine whether such eligible retirement plan meets the requirements of Code Section 401(a), 403(b), 408 or 457 whether the direct rollover will constitute a tax-free transaction.

Direct Rollovers. (a) This section applies to distributions made on or after January 1, 1993. Notwithstanding any provision of this Agreement to the contrary that would otherwise limit a distributee's election under this section, a distributee may elect, elect at the time and in the manner prescribed by the CustodianCustodian and fund transfer agent, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover. (b) . For purposes the purpose of this section, the following terms have the definitions given.apply: (ia) Eligible rollover distribution: An eligible rollover distribution is any withdrawal or distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover distribution does not include: any withdrawal or distribution that is one of a series of substantially equal periodic payments (not no less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee's designated beneficiary, or for a specified period of ten years or more; any withdrawal or distribution to the extent such distribution is required under Code Section to comply with the minimum distribution and incidental benefit requirements of section 401(a)(9)) and 403(b)(10) of the Code; and the portion of any withdrawal or distribution that is not includible in gross income (except to income. An eligible rollover distribution also does not include any other amounts that may be excluded under regulations, procedures, notices, or rulings interpreting the extent provided in term eligible rollover distribution under sections 401(a)(31), 402, or 403(b) of the Code); and, any hardship withdrawal under Section 5.2(a)(iv). (iib) Eligible retirement plan: An eligible retirement plan is an individual retirement account described in Code Section 408(a), a Xxxx individual retirement account described in Code Section 408A) of the Code, an individual retirement annuity described in Code Section 408(b)) of the Code, or an arrangement described in Code Section another 403(b), ) annuity that accepts the distributee’s 's eligible rollover distribution. In additionHowever, in the case of an eligible rollover distribution to the surviving spouse, an eligible retirement plan includes an employer plan that is qualified under Code Section 401(a) with a trust that is tax-exempt under Code Section 501(a) or a plan maintained under Code Section 457 by a governmental employer. Any arrangement described in Code Section 403(b), 401(a) or 457 shall be an eligible retirement plan only if the distributee is a participant in such plan and such plan permits the acceptance of direct rollovers. In the case of a distribution to a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order), a direct rollover is payable only to an individual retirement account or individual retirement annuity (IRA) that has been established on behalf of the Beneficiary as an inherited IRA (within the meaning of Code Section 408(d)(3)(C)). (iii) Distributee: A distributee includes the Employeeannuity. In addition, the Employee's surviving spouse and the employee's spouse or former spouse who is the alternate payee under a qualified domestic relations order, as defined in Code Section 414(p) (if applicable), are distributees with regard to the interest of the spouse or former spouse. To the extent provided in (ii) above, a distribute also includes a Beneficiary who, at the time of an Employee’s death was not the spouse of the Employee (or former spouse and alternate payee under a qualified domestic relations order). (iv) Direct rollover: A direct rollover is a payment from the Employee's Account to the eligible retirement plan specified by the distributee. (c) Neither the Custodian, the Fund Distributor nor any Fund hereunder (or any entity or person affiliated with the Custodian, Fund Distributor or a Fund) will have any responsibility to determine whether such eligible retirement plan meets the requirements of Code Section 401(a), 403(b), 408 or 457 whether the direct rollover will constitute a tax-free transaction.