HOW SETTLEMENT PAYMENTS WILL BE DISTRIBUTED Sample Clauses

HOW SETTLEMENT PAYMENTS WILL BE DISTRIBUTED. If you are currently participating or have an account balance in the Plan and are a Settlement Class member, any share of the Net Settlement Amount to which you are entitled will be deposited into your Plan account. If you are a Former Participant (i.e., no longer a participant in the Plan) and are a Settlement Class member, such funds shall be paid directly to you by the Settlement Administrator.
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HOW SETTLEMENT PAYMENTS WILL BE DISTRIBUTED. If you currently have a positive account balance in the Plan and are a Settlement Class member, any share of the Net Settlement Amount to which you are entitled will be deposited into your Plan account. If you are a Former Participant (i.e., no longer a participant in the Plan) and are a Settlement Class member, such funds shall be paid directly to you by the Settlement Administrator. Not all Settlement Class members will receive a payment, and it may take several months for the payments to be made.
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HOW SETTLEMENT PAYMENTS WILL BE DISTRIBUTED. If you are a Settlement Class Member, any share of the Net Settlement Fund to which you are entitled will be paid to you by the Settlement Administrator by check.
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HOW SETTLEMENT PAYMENTS WILL BE DISTRIBUTED. If the Settlement is approved by the Court, and if you are a member of the Settlement Class who is entitled to receive a Settlement payment under the Settlement Agreement, you will not need to file a claim in order to receive the payment. If you have already received or started receiving your pension benefits from the Plan, in the form of either an annuity or a lump sum payment, or if you have not yet started receiving your pension benefits from the Plan, your share of the Net Settlement Amount will be eligible for rollover to an Individual Retirement Account or to another employer-sponsored plan in which you participate and that accepts rollover contributions. To arrange a rollover, you must complete and submit the enclosed Rollover Election Form by [INSERT DUE DATE]. Your payment will be distributed to you by mailing a check payable either to the financial institution or employer plan which will receive the rollover, or a check payable to you personally. Alternatively, you may request a rollover wire transfer to your financial institution. Please carefully read the enclosed Tax Notice regarding your payment options and their tax consequences. YOU MAY OBJECT TO THE SETTLEMENT BY .
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Related to HOW SETTLEMENT PAYMENTS WILL BE DISTRIBUTED

  • Rollovers of Exxon Xxxxxx Settlement Payments If you receive a qualified settlement payment from Exxon Xxxxxx litigation, you may roll over the amount of the settlement, up to $100,000, reduced by the amount of any qualified Exxon Xxxxxx settlement income previously contributed to a Traditional or Xxxx XXX or eligible retirement plan in prior taxable years. You will have until your tax return due date (not including extensions) for the year in which the qualified settlement income is received to make the rollover contribution. To obtain more information on this type of rollover, you may wish to visit the IRS website at xxx.xxx.xxx.

  • Rollovers of Settlement Payments From Bankrupt Airlines If you are a qualified airline employee who has received a qualified airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court in a case filed after September 11, 2001, and before January 1, 2007, you are allowed to roll over any portion of the proceeds into your Xxxx XXX within 180 days after receipt of such amount, or by a later date if extended by federal law. For further detailed information and effective dates you may obtain IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at xxx.xxx.xxx.

  • Settlement Payment If the resulting net amount is positive, it shall be payable by the Defaulting Party to the Non-Defaulting Party, and if it is negative, then the absolute value of such amount shall be payable by the Non-Defaulting Party to the Defaulting Party.

  • Gross Settlement Amount Except as otherwise provided by Paragraph 9 below, Defendant promises to pay $250,000.00 and no more as the Gross Settlement Amount and to separately pay any and all employer payroll taxes owed on the Wage Portions of the Individual Class Payments. Defendant has no obligation to pay the Gross Settlement Amount (or any payroll taxes) prior to the Court’s final approval of the settlement, but in no event prior to April 30, 2023. The Administrator will disburse the entire Gross Settlement Amount without asking or requiring Participating Class Members or Aggrieved Employees to submit any claim as a condition of payment. None of the Gross Settlement Amount will revert to Defendant.

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