Common use of DISTRIBUTIONS FOR BENEFIT Clause in Contracts

DISTRIBUTIONS FOR BENEFIT. PAYMENTS ATTRIBUTABLE TO SALARY REDUCTION AGREEMENT CONTRIBUTIONS (including automatic deferral provision). Subject to the terms of the Plan, and except to the extent permitted or limited by Treasury Regulations or other applicable law, distributions attributable to salary reduction agreement Contributions (including automatic deferral provision) and earnings thereto, may not be made prior to the Participant’s attainment of age 59 1/2, except for the following events: Severance from employment; Death; Disability (within the meaning of Code section 72(m)(7); Hardship within the meaning of Code section 403(b)(11)(B) (in which case the Distribution may not include earnings); During active duty within the meaning of Code section 72(t)(2)(g) (in which case the Distribution may not include earnings); or Termination of the Plan

Appears in 2 contracts

Samples: Investment Agreement (Priac Variable Contract Account A), Investment Agreement (Priac Variable Contract Account A)

AutoNDA by SimpleDocs

DISTRIBUTIONS FOR BENEFIT. PAYMENTS ATTRIBUTABLE TO SALARY REDUCTION AGREEMENT CONTRIBUTIONS (including automatic deferral provision). Subject to the terms of the Plan, and except to the extent permitted or limited by Treasury Regulations or other applicable law, distributions attributable to salary reduction agreement Contributions (including automatic deferral provision) and earnings thereto, may not be made prior to the Participant’s attainment of age 59 1/21⁄2, except for the following events: Severance from employment; Death; Disability (within the meaning of Code section 72(m)(7); Hardship within the meaning of Code section 403(b)(11)(B) (in which case the Distribution may not include earnings); During active duty within the meaning of Code section 72(t)(2)(g) (in which case the Distribution may not include earnings); or Termination of the Plan.

Appears in 1 contract

Samples: Investment Agreement (Priac Variable Contract Account A)

AutoNDA by SimpleDocs

DISTRIBUTIONS FOR BENEFIT. PAYMENTS ATTRIBUTABLE TO SALARY REDUCTION AGREEMENT CONTRIBUTIONS (including automatic deferral provision). Subject to the terms of the Plan, and except to the extent permitted or limited by Treasury Regulations or other applicable law, distributions attributable to salary reduction agreement Contributions (including automatic deferral provision) and earnings thereto, may not be made prior to the Participant’s attainment of age 59 1/2½, except for the following events: Severance from employment; Death; Disability (within the meaning of Code section 72(m)(7); Hardship within the meaning of Code section 403(b)(11)(B) (in which case the Distribution may not include earnings); During active duty within the meaning of Code section 72(t)(2)(g) (in which case the Distribution may not include earnings); or Termination of the Plan.

Appears in 1 contract

Samples: Investment Agreement (Priac Variable Contract Account A)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!