Common use of Distribution from In-Plan Xxxx Conversion Account Clause in Contracts

Distribution from In-Plan Xxxx Conversion Account. Distributions from the In-Plan Xxxx Conversion Account will be permitted at the same time as permitted for Xxxx Deferrals, as set forth under AA §10-1, unless designated otherwise under this subsection (6). However, earlier distribution of certain converted amounts may be required to the extent necessary to protect distribution options that were available with respect to such converted amounts prior to the In-Plan Xxxx Conversion. 🞎 (i) In-service distributions will not be permitted from an In-Plan Xxxx Conversion Account. However, a distribution must continue to be offered for any converted amounts as of the earliest date a distribution would otherwise be permitted for such converted amounts, without regard to the In-Plan Xxxx Conversion. 🞎 (ii) An in-service distribution may be made from the In-Plan Xxxx Conversion Account at any time, subject to any source distributions restrictions that applied to amounts prior to the conversion. 🞎 (iii) Describe distribution options:

Appears in 5 contracts

Samples: 403(b) Plan Adoption Agreement, 403(b) Plan Adoption Agreement, Volume Submitter Governmental 403(b) Plan Adoption Agreement

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Distribution from In-Plan Xxxx Conversion Account. Distributions from the In-Plan Xxxx Conversion Account will be permitted at the same time as permitted for Xxxx Deferrals, as set forth under AA Β§10-1, unless designated otherwise under this subsection (6). However, earlier distribution of certain converted amounts may be required to the extent necessary to protect distribution options that were available with respect to such converted amounts prior to the In-Plan Xxxx Conversion. πŸžŽο‚¨ (i) In-service distributions will not be permitted from an In-Plan Xxxx Conversion Account. However, a distribution must continue to be offered for any converted amounts as of the earliest date a distribution would otherwise be permitted for such converted amounts, without regard to the In-Plan Xxxx Conversion. � οΏ½ (ii) An in-service distribution may be made from the In-Plan Xxxx Conversion Account at any time, subject to any source distributions restrictions that applied to amounts prior to the conversion.  🞎 (iii) Describe distribution options:

Appears in 1 contract

Samples: Volume Submitter Governmental 403(b) Plan Adoption Agreement

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