Election to Suspend. If the Plan Administrator offered an election to suspend distributions, a Participant who is not a 5% owner who reached age 70½ prior to 1997 and who made the election may stop distributions and recommence by April 1 of the calendar year following the year in which the Participant actually retires. In such an event, the Plan Administrator may elect that a new Annuity Starting Date will begin upon the distribution recommencement date.
Appears in 5 contracts
Samples: Defined Contribution Plan, Defined Contribution Plan, Defined Contribution Plan (1st Constitution Bancorp)
Election to Suspend. If the Plan Administrator offered an election to suspend distributions, a Participant who is not a 5% owner who reached age 70½ 70 1/2 prior to 1997 and who made the election may stop distributions and recommence by April 1 of the calendar year following the year in which the Participant actually retires. In such an event, the Plan Administrator may elect that a new Annuity Starting Date will begin upon the distribution recommencement date.
Appears in 3 contracts
Samples: Defined Contribution Plan (ASB Bancorp Inc), Defined Contribution Plan (Fraternity Community Bancorp Inc), Defined Contribution Plan (Old Dominion Freight Line Inc/Va)
Election to Suspend. If the Plan Administrator offered an election to suspend distributions, a Participant who is not a 5% owner who reached age 70½ 701/2 prior to 1997 and who made the election may stop distributions and recommence by April 1 of the calendar year following the year in which the Participant actually retires. In such an event, the Plan Administrator may elect that a new Annuity Starting Date will begin upon the distribution recommencement date.
Appears in 3 contracts
Samples: Savings and Investment Plan Document (Sterling Chemicals Inc), Adoption Agreement (Sterling Chemicals Inc), Defined Contribution Plan (Athens Bancshares Corp)
Election to Suspend. If the Plan Administrator offered an election to suspend distributions, a Participant who is not a 5% owner who reached age 70½ reaches Age 70 1/2 prior to 1997 and who made the election may stop distributions and recommence by April 1 1st of the calendar year following the year in which the Participant actually retires. In such an event, the Plan Administrator may may, on a uniform non-discriminatory basis, elect that a new Annuity Starting Date will begin upon the distribution recommencement date.
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