Distribution Restrictions Under A Code Section 401(k) Plan. If the Employer’s Plan includes a cash or deferred arrangement or if transferred assets described in paragraph 6.15 are subject to the distribution restrictions of Code Sections 401(k)(2) and 401(k)(10), the special distribution provisions of this paragraph apply. The portion of the Participant’s Vested Account Balance attributable to Elective Deferrals or Xxxx Elective Deferrals (or to amounts treated under the cash or deferred arrangement as Elective Deferrals such as QNECs and QMACs and income allocable to each) are not distributable earlier than upon the Participant’s severance from employment, death, or Disability. Such amounts may also be distributed upon:
Appears in 7 contracts
Samples: Prototype Defined Contribution Plan (Wellesley Bancorp, Inc.), Prototype Defined Contribution Plan (Fraternity Community Bancorp Inc), Participation Agreement (Sterling Chemicals Inc)
Distribution Restrictions Under A Code Section 401(k) Plan. If the Employer’s Plan includes a cash or deferred arrangement or if transferred assets described in paragraph 6.15 are subject to the distribution restrictions of Code Sections 401(k)(2) and 401(k)(10), the special distribution provisions of this paragraph apply. The portion of the Participant’s Vested Account Balance attributable to Elective Deferrals or Xxxx Rxxx Elective Deferrals (or to amounts treated under the cash or deferred arrangement as Elective Deferrals such as QNECs and QMACs and income allocable to each) are not distributable earlier than upon the Participant’s severance from employment, death, or Disability. Such amounts may also be distributed upon:
Appears in 1 contract
Samples: Prototype Defined Contribution Plan (Savannah Bancorp Inc)
Distribution Restrictions Under A Code Section 401(k) Plan. If the Employer’s Plan includes a cash or deferred arrangement or if transferred assets described in paragraph 6.15 are subject to the distribution restrictions of Code Sections 401(k)(2) and 401(k)(10), the special distribution provisions of this paragraph apply. The portion of the Participant’s Vested Account Balance attributable to Elective Deferrals or Xxxx Elective Deferrals (or to amounts treated under the cash or deferred arrangement as Elective Deferrals such as QNECs and QMACs and income allocable to each) are not distributable earlier than upon the Participant’s severance from employment, death, or Disability. Such amounts may also be distributed upon:: 108
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Samples: Prototype Defined Contribution Plan (1st Constitution Bancorp)
