Eligibility for Distributions. Except as permitted under Sections 6.5 and 6.6 of the Plan, distributions from a Participant’s Account may not be made earlier than the earliest of the Participant’s death, Total Disability, Severance from Employment with the Employer, or the attainment of age fifty-nine and one-half (59½). Early distribution penalties will apply to distributions due to Severance from Employment prior to age fifty-nine and one-half (59½). Effective January 1, 2009, if a Participant performs service in the uniformed services, as defined in Code §414(u)(12)(B), on active duty for a period of more than 30 days, the Participant will be deemed to have had a Severance from Employment. However, the Plan will not distribute such a Participant’s Account based upon such a deemed Severance from Employment unless the Participant specifically elects to receive a benefit distribution under this provision. If a participant elects to receive a distribution on account of such a deemed Severance from Employment, then the Participant may not make an elective deferral or employee contribution during the 6 month period beginning on the date of the distribution. If a Participant would be entitled to a distribution based upon such a deemed Severance from Employment, and a distribution based upon another Plan provision (such as a qualified reservist distribution), then the other Plan provision will control and the 6 month suspension will not apply. Distributions shall be made or commence not later than the times set forth in Section 6.2. Notwithstanding the foregoing, as to distributions from Annuity Contracts issued before January 1, 2009, a Participant may withdraw, with an early distribution penalty, any Employer contributions (which are not Elective Deferrals) plus earnings attributable thereto from any annuity contract which is a Funding Vehicle under this Plan. As to distributions from annuity contracts issued on and after January 1, 2009, a Participant may withdraw, subject to any applicable early distribution penalty, any Employer contributions (which are not Elective Deferrals) plus earnings attributable thereto from any Annuity Contract which is a Funding Vehicle under this Plan no earlier than a Participant’s Severance from Employment, Total Disability, death, or the attainment of age 55. Further, a Participant may withdraw, with an early distribution penalty, any Elective Deferrals, and earnings attributable thereto, which were made prior to 1989 from any annuity contract which is a F...
Eligibility for Distributions. 57 7.2. Form of Distribution - Profit Sharing and 401(k) Plans............................... 58
Eligibility for Distributions. Upon a Participant's Termination Date, he or she (or his or her Beneficiary, in the event of the Participant's death) will be entitled to receive distributions under the Plan in the amount of the Vested Percentage of the value of his or her Accounts, in the form and at the time determined under the applicable provisions of this Article. Once the Vested Percentage of a Participant's Accounts has been reduced to zero, he or she will not be entitled to further payments under the Plan. 7.2.
Eligibility for Distributions
