In-Service Distributions. [X]
(1) In-service distributions may be made from any of the Participant's vested Accounts, at any time upon or after the occurrence of the following events (select all applicable): [X] (a) a Participant's attainment of age 59-1/2. [X] (b) due to hardships as defined in Section 5.9 of the Plan. [ ] (2) In-service distributions are not permitted.
In-Service Distributions. EVENTS (6.01(D)). A Participant may elect an In-Service Distribution of the designated Contribution Type Accounts based on any of the following events in accordance with Section 6.01(D) (Choose (a) OR (b).):
In-Service Distributions. In-service accounts are permitted under the Plan:
(a) Yes, with respect to: x Participant Deferral Credits only. ¨ Employer Credits only.
In-Service Distributions. If the Employer elects below, the Plan will allow distributions of Participant Deferral Contributions to be made to Participants while they are still employed (“In-Service Distributions”), if they elect a fixed distribution date during the regular election period. [
In-Service Distributions. Executive shall have no right to borrow money from his Deferred Bonus Account nor shall he be allowed to receive a distribution except as provided above.
In-Service Distributions. In-Service Accounts are permitted under the Plan: ☒ (a) In-Service Accounts are allowed with respect to: ☒ Participant Deferral Credits only. ☐ Employer Credits only.
In-Service Distributions. Distributions may be made to a Participant < ¨ who is a NHCE > while he or she is still employed by the Employer as selected below.
In-Service Distributions. Section 2.5.6 provides that an Employer may permit distributions to fully vested Participants over the age of 59-1/2 prior to termination of employment if the amounts withdrawn have been allocated to the Participant for two (2) or more years or the Participant has been a Participant for at least five (5) years. (Select all applicable)
In-Service Distributions. EVENTS (6.01(C)). A Participant may elect an In-Service Distribution of the Employer Contribution and Matching Contribution Accounts based on any of the following events in accordance with Section 6.01(C). (Choose one of (a) or (b)): [Note: If the Employer elects any In-Service Distribution option, a Participant may elect to receive as many In-Service Distributions per Plan Year (with a minimum of one per Plan Year) as the Plan Administrator's In-Service Distribution form or policy may permit. If the form or policy is silent, the number of In-Service Distributions is not limited. Prevailing Wage Contributions are treated as Employer Contributions unless the Prevailing Wage Contract provides otherwise. See Section 6.01(C)(4)(d) if the Employer elects to use Prevailing Wage Contributions to offset other contributions.]
(a) [ ] None. The Plan does not permit any In-Service Distributions except as to any of the following (if applicable): (i) RMDs under Section 6.02; (ii) Protected Benefits; and (iii) under Section 6.01(C)(4) as to Employee Contributions, Rollover Contributions, DECs, Transfers, and Designated IRA Contributions.
(b) [ ] Permitted. In-Service Distributions are permitted as follows (Choose one or more of (1) through (3)):
(1) [ ] Normal Retirement Age.
(2) [ ] Age (must be greater than Normal Retirement Age).
(3) [ ] Describe:
In-Service Distributions. If the Adoption Agreement allows for In-Service Distributions under this Plan, then a Participant may allocate in the Deferral Election Form a portion of his or her Account Balance to be paid as a scheduled In-Service Distribution, such payment to be made at a date designated on the form in accordance with the limits defined in the Adoption Agreement. The In-Service Distribution shall be calculated and paid in accordance with the Adoption Agreement and the terms and conditions of this Plan. Despite the foregoing, if another distribution event occurs that would result in the payment of any benefit prior to an In-Service Distribution, then such other form of benefit shall be paid in lieu of such In-Service Distribution. A Participant may elect to delay the scheduled time for payment of an In-Service Distribution under this paragraph, but only if such election constitutes a Permissible Change Election. If any amount of the Account Balance that has been designated for an In-Service Distribution shall be unvested at the time an In-Service Distribution is scheduled to occur, such unvested amount instead shall remain in such Participant's Account, to be included, when and if it vests, with other amounts payable by reason of the Participant's Separation from Service.
