Common use of Election to postpone Clause in Contracts

Election to postpone. A Participant eligible to receive a Distribution Requiring Consent prior to his/her Annuity Starting Date, may elect to postpone distribution beyond the time the Employer has elected in its Adoption Agreement, to any specified date including, but not beyond the Participant's RBD as described in Section 6.02, unless the Employer, in its Adoption Agreement, specifically limits a Participant's right to postpone distribution of his/her Account Balance only to the later of the date the Participant attains age 62 or Normal Retirement Age. The Plan Administrator will reapply the notice and consent requirements of Section 6.01(A)(2) to any distribution a Participant postpones under this Section 6.01(A)(2)(f).

Appears in 4 contracts

Samples: Defined Contribution Pre Approved Plan (J&j Snack Foods Corp), Defined Contribution Prototype Plan and Trust Agreement (Bob Evans Farms Inc), 401(k) Profit Sharing Plan (Nci Building Systems Inc)

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Election to postpone. A Participant eligible to receive a Distribution Requiring Consent prior to his/her Annuity Starting Date, may elect to postpone distribution beyond the time the Employer has elected in its Adoption Agreement, to any specified date including, but not beyond the Participant's ’s RBD as described in Section 6.02, unless the Employer, in its Adoption Agreement, specifically limits a Participant's ’s right to postpone distribution of his/her Account Balance only to the later of the date the Participant attains age 62 or Normal Retirement Age. The Plan Administrator will reapply the notice and consent requirements of Section 6.01(A)(2) to any distribution a Participant postpones under this Section 6.01(A)(2)(f).

Appears in 1 contract

Samples: 401(k) Plan Adoption Agreement (Knowles Corp)

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