Distribution Requests Clause Samples
Distribution Requests. You may request a Distribution from Your Account at any time on a form provided or approved by the Custodian, subject to any limitations under the Code and any further limitations under the terms of Your Employer’s Plan. Those limitations include:
10.1.1 Restrictions on Withdrawals: a partial or total Distribution of Your Account will be permitted only if both (a) and (b) are satisfied:
(a) Your Employer’s Plan does not prohibit the Distribution.
(b) With respect to Contributions other than Rollover Contributions into this Account, You have:
(1) attained age 59½; or,
(2) had a severance from employment; or
(3) have a disability; or
(4) experienced a financial hardship, as described in section 10.1.2 of this Article.
Distribution Requests. A Participant may request a Distribution from a Participant’s Account at any time on a form provided or approved by the Custodian, subject to any limitations under the Code and any further limitations under the terms of the Employer’s Plan. Those limitations include:
11.1.1 Restrictions on Withdrawals: a partial or total Distribution of the Participant’s Account will be permitted only if both (a) and (b) are satisfied:
(a) The Employer’s Plan provides for (or where applicable does not prohibit) the Distribution.
(b) With respect to Contributions other than Rollover Contributions into this Account, the Participant has:
(i) attained age 59½; or,
(ii) had a severance from employment; or
(iii) a disability; or
Distribution Requests. Your Employer may elect to utilize online distribution functionality from the Website. For participants requesting distributions online, an email will be sent to the Employer requesting approval of the transaction. The Employer will need to access the Plan Sponsor Website to either approve or decline the request. Once approved by the Employer, the distribution will be processed within two (2) business days.
Distribution Requests. You may request a Distribution from Your Account at any time on a form provided or approved by the Custodian, subject to any limitations under the Code and any further limitations under the terms of Your Employer’s Plan. Those limitations include:
10.1.1 Restrictions on Withdrawals: a partial or total Distribution of Your Account will be permitted only if both (a) and (b) are satisfied:
(a) Your Employer’s Plan permits the Distribution.
(b) With respect to Contributions other than Rollover Contributions into this Account, You have:
(i) attained age 70½; or,
(ii) had a severance from employment; or
(iii) experienced an unforeseeable emergency, as described in section 10.1.2 of this Article, and the Distribution is reasonably needed to satisfy the emergency need (including any amounts that may be necessary to pay any federal, state or local income taxes or penalties reasonably anticipated to result from the Distribution); or
Distribution Requests. You may request a Distribution from Your Account at any time on a form provided or approved by the Custodian, subject to any limitations under the Code and any further limitations under the terms of Your Employer’s Plan. Those limitations include:
10.1.1 Restrictions on Withdrawals: a partial or total Distribution of Your Account will be permitted only if both (a) and (b) are satisfied:
(a) Your Employer’s Plan permits the Distribution.
(b) With respect to Contributions other than Rollover Contributions into this Account, You have:
(i) attained age 72 (age 70½ if born before July 1, 1949); or,
(ii) had a severance from employment; or
(iii) experienced an unforeseeable emergency, as described in section 10.1.2 of this Article, and the Distribution is reasonably needed to satisfy the emergency need (including any amounts that may be necessary to pay any federal, state or local income taxes or penalties reasonably anticipated to result from the Distribution); or