Exception for Small Amounts Sample Clauses

Exception for Small Amounts. Effective for Plan Years beginning on or after September 1, 1997, Section 7.1.2 of the Plan Statement shall be amended to read in full as follows:
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Exception for Small Amounts. A Vested Total Account which does not exceed (and has never exceeded) Three Thousand Five Hundred Dollars ($3,500) as of the annual Valuation Date coincident with or next following the occurrence of an Event of Maturity effective as to a Participant, shall be distributed automatically in a single lump sum as of that date without a written application for distribution. A Participant who has no Vested interest in the Participant's Total Account as of the Participant's Event of Maturity shall be deemed to have received an immediate distribution of the Participant's entire interest in the Plan as of such Event of Maturity.
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Exception for Small Amounts. A Vested Total Account which does not exceed Five Thousand Dollars ($5,000) shall be distributed automatically in a single lump sum as soon as administratively practicable after the Participant's Event of Maturity without an application for distribution. A Participant who has no Vested interest in the Participant's Total Account as of the Participant's Event of Maturity shall be deemed to have received an immediate distribution of the Participant's entire interest in the Plan as of such Event of Maturity.
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Exception for Small Amounts. If a Participant whose Vested Account exceeds One Thousand Dollars ($1,000) but does not exceed Five Thousand Dollars ($5,000) incurs an Event of Maturity (other than death) and the Participant does not elect (i) to have the distribution rolled over to an eligible retirement plan specified by the Participant in a direct rollover, or (ii) to receive the distribution directly, the Committee shall direct the Trustee to pay the distribution in a direct rollover to an individual retirement account or annuity described in section 408(a) or 408(b) of the Code as soon as administratively following such Event of Maturity. If a Participant whose Vested Account does not exceed One Thousand Dollars ($1,000) incurs an Event of Maturity (other than death), the Committee shall direct the Trustee to distribute such Vested Account in a single lump sum payment as soon as administratively practicable following such Event of Maturity without an application for distribution. Upon the death of a Participant whose Vested Account does not exceed Five Thousand Dollars ($5,000), such Participant’s Vested Account shall be distributed to the Beneficiary in a single lump sum as soon as administratively practicable following such Participant’s death without an application for distribution. A Participant who has no Vested interest in the Participant’s Account as of the Participant’s Event of Maturity shall be deemed to have received an immediate distribution of the Participant’s entire interest in the Plan as of such Event of Maturity.
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Exception for Small Amounts. If a Participant’s Vested Total Account is Five Thousand Dollars ($5,000) or less at any time following the Participant’s Event of Maturity, then the Vested Total Account shall be distributed automatically (without an application for distribution) in a single lump sum as soon as administratively practicable. However, this subsection (a) shall not apply to a Participant if the Participant’s Vested Total Account exceeded Five Thousand Dollars ($5,000) at the time any previous distribution was made to the Participant after the Event of Maturity.
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Exception for Small Amounts. If the Beneficiary’s Account is Five Thousand Dollars ($5,000) or less at any time following the Participant’s death, then the Beneficiary’s Account shall be distributed automatically (without an application for distribution) in a single lump sum as soon as administratively practicable.
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Exception for Small Amounts. A Vested Account which does not exceed (and has never exceeded) Three Thousand Five Hundred Dollars ($3,500) as of the Second Annual Valuation Date next following the occurrence of an Event of Maturity effective as to a Participant, shall be distributed automatically in a single lump sum as of that date without a written application for distribution. If, however, the distribution is made on account of the Participant's death or Disability while in the employment of the Employer or the Participant's separation from service on or after attaining Normal Retirement Age, a Vested Account which does not exceed (and has never exceeded) Three Thousand Five Hundred Dollars ($3,500) on the first Annual Valuation Date next following the occurrence of Participant's Event of Maturity shall be automatically distributed in a single lump sum as of such First Annual Valuation Date without a written application for distribution. A Participant who has no Vested interest in the Participant's Account as of the Participant's Event of Maturity shall be deemed to have received an immediate distribution of the Participant's entire interest in the Plan as of such Event of Maturity.
Sample 1
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Exception for Small Amounts. A Vested Account which does not exceed Five Thousand Dollars ($5,000) as of the second Annual Valuation Date coincident with or next following the occurrence of an Event of Maturity effective as to a Participant, shall be distributed automatically in a single lump sum as of that date without an application for distribution. If, however, the distribution is made on account of the Participant's death or Disability while in the employment of the Employer or the Participant's separation from service on or after attaining Normal Retirement Age, a Vested Account which does not exceed Five Thousand Dollars ($5,000) on the first Annual Valuation Date next following the occurrence of the Participant's Event of Maturity shall be distributed automatically in a single lump sum as of that date without an application for distribution. A Participant who has no Vested interest in the Participant's Account as of the Participant's Event of Maturity shall be deemed to have received an immediate distribution of the Participant's entire interest in the Plan as of such Event of Maturity.
Sample 1

Related to Exception for Small Amounts

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