Distribute at Normal Retirement Age Sample Clauses

The "Distribute at Normal Retirement Age" clause establishes that benefits or assets will be distributed to a participant when they reach the plan's defined normal retirement age. In practice, this means that once an individual attains the specified age—commonly 65, but sometimes earlier or later depending on the plan—they become eligible to receive payouts from a retirement plan or pension. This clause ensures a clear and predictable timeline for benefit distribution, helping both plan administrators and participants understand when payments will commence and supporting orderly retirement planning.
Distribute at Normal Retirement Age. As to a Mandatory Distribution, [ ] [ ] distribute not later than 60 days after the beginning of the Plan Year following the Plan Year in which the previously severed Participant attains the earlier of Normal Retirement Age or age 65. [Note: An election under column (2) only will have effect if the Plan's NRA is less than age 62.]
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Distribute at Normal Retirement Age. As to a Mandatory [ ] [ ] Distribution, distribute not later than 60 days after the beginning of the Plan Year following the Plan Year in which the previously separated Participant attains the earlier of Normal Retirement Age or age 65. [Note:
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Related to Distribute at Normal Retirement Age

  • Normal Retirement Age Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65).

  • Normal Retirement Normal Retirement Age under the Plan is: (Choose (a) or (b)) [X] (a) 65 [State age, but may not exceed age 65].

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

  • Retirement Age It is assumed that an employee terminates employment at the end of the school year in which the employee attains age 58 or at the end of the current year, if the individual is already 58 or older.

  • Early Retirement Age The age set by the Employer in the Adoption Agreement, not less than age fifty-five (55), at which a Participant becomes fully vested and is eligible to retire and receive his or her benefits under the Plan.