In-Service Withdrawals. [ ] 1. In-service withdrawals are not permitted in the Plan. [x] 2. In-service withdrawals are permitted in the Plan. Participants may withdraw the following contribution types after meeting the following requirements (select one or more of the following options):
In-Service Withdrawals. An Employee may withdraw all or any part of the fair market value of his or her Voluntary Contributions, Qualified Voluntary Contributions, Rollover Contributions, upon written request to the Employer. Transfer Contributions, which originate from a Plan meeting the safe-harbor provisions of paragraph 8.7, may also be withdrawn, by an Employee, upon written request to the Employer. Transfer Contributions not meeting the safe-harbor provisions may only be withdrawn upon retirement, death, disability, termination or termination of the Plan, and will be subject to Spousal consent requirements contained in Code Sections 411(a)(11) and 417. No such withdrawals are permitted from a money purchase plan until the participant reaches Normal Retirement Age. Such request shall include the Employee's address, social security number, birthdate, and amount of the withdrawal. If at the time a distribution of Qualified Voluntary Contributions is received the Participant has not attained age 59-1/2 and is not disabled, as defined at Code Section 22(e)(3), the Participant will be subject to a federal income tax penalty, unless the distribution is rolled over to a qualified plan or individual retirement plan within 60 days of the date of distribution. A Participant may withdraw all or any part of the fair market value of his or her pre-1987 Voluntary Contributions with or without withdrawing the earnings attributable thereto. Post-1986 Voluntary Contributions may only be withdrawn along with a portion of the earnings thereon. The amount of the earnings to be withdrawn is determined by using the formula: DA [1-(V / V+E)], where DA is the distribution amount, V is the amount of Voluntary Contributions and V+E is the amount of Voluntary Contributions plus the earnings attributable thereto. A Participant withdrawing his or her other contributions prior to attaining age 59-1/2, will be subject to a federal tax penalty to the extent that the withdrawn amounts are includible in income. Any Participant in a profit-sharing plan may, if permitted by the Employer in the Adoption Agreement, withdraw all or any part of the fair market value of any of such vested contributions, plus the investment earnings thereon, after attaining age 59-1/2 without separating from Service. Such Employer contributions may not have been used to satisfy the antidiscrimination test of Code Section 401(k). Such distributions shall not be eligible for redeposit to the Fund. A withdrawal under this paragraph sha...
In-Service Withdrawals. In-Service Withdrawals are (select one):
þ (1) permitted and may be made from any of the Participant's vested Accounts, at any time upon or after the occurrence of the following events (select one):
(a) a Participant's attainment of age 59 1/2 (no lower than 591/2). o (b) January 1 of the calendar year in which the Participant attains age 701/2. ¨ (2) not permitted (subject to Section 5.7.3 of the Base Plan Document).
In-Service Withdrawals. Participants may make withdrawals prior to termination of employment under the following circumstances:
In-Service Withdrawals. If elected in the Adoption Agreement, an Employer may elect to permit a Participant in the Plan to make an in-service withdrawal subject to any limitation(s) specified in the Adoption Agreement.
In-Service Withdrawals. Distribution restrictions apply in the case of Elective Deferrals (including Xxxx Elective Deferrals, if applicable), Safe Harbor Contributions, Qualified Matching Contributions and Qualified Non-Elective Contributions, including the withdrawal restrictions prior to attainment of age 59½.
In-Service Withdrawals. ¨ 1. In-service withdrawals are not permitted in the Plan.
In-Service Withdrawals. 25 ---------------------- 10.1 In-Service Withdrawals Permitted........................ 25 10.2 In-Service Withdrawal Application and Notice............ 25 10.3 Spousal Consent......................................... 25 10.4 In-Service Withdrawal Approval.......................... 25 10.5 Minimum Amount, Payment Form and Medium................. 25 10.6 Source and Timing of In-Service Withdrawal Funding............................................... 26 10.7
In-Service Withdrawals. If elected in the Adoption Agreement, an Employer may elect to permit a Participant in the Plan to make an in-service withdrawal, subject to any limitation(s) specified in the Adoption Agreement.
(a) Unless indicated otherwise on the Adoption Agreement, a Participant may withdraw all or any part of the fair market value of his or her Voluntary or Required After-tax Contributions as described in Article IV, other than Elective Deferrals or Xxxx Elective Deferrals, upon request to the Plan Administrator. No amount of the Employer’s Contribution will be forfeited solely as a result of a Participant’s withdrawal of an amount pursuant to this paragraph 6.10. Unless indicated otherwise in the Adoption Agreement, Rollover and Transfer Contributions, and the income allocable to each, may be withdrawn at any time.
(b) Subject to Article VIII, Joint and Survivor Annuity Requirements (if applicable) and pursuant to the Employer’s election in the Adoption Agreement, a Participant may be eligible to withdraw any part of his or her Qualified Voluntary Contribution account by making application to the Plan Administrator. A request to withdraw amounts pursuant to this paragraph must be consented to by the Participant’s Spouse, unless the Plan satisfies the safe harbor under paragraph 8.7 hereof. Spousal consent, if required, shall comply with the requirements of paragraph 6.6 relating to immediate distributions.
(c) A Participant may withdraw all or any part of the fair market value of his or her pre-1987 Voluntary Contributions with or without withdrawing the earnings attributable thereto. Post-1986 Voluntary Contributions may only be withdrawn along with a portion of the earnings thereon. The amount of the earnings to be withdrawn is determined by using the formula: DA [1-(V ÷ V+E)], where DA is the distribution amount, V is the amount of Voluntary Contributions and V+E is the amount of Voluntary Contributions plus the earnings attributable thereto. The aggregate value of the Participant’s Vested Account Balance derived from Employer and Employee contributions (including Rollovers), whether vested before or upon death, includes the proceeds of insurance contracts, if any, on the Participant’s life. The provisions of this Article shall apply to a Participant who is vested in amounts attributable to Employer contributions, Employee contributions (or both) at the time of death or distribution.
(d) Under a Profit Sharing Plan and to the extent that the Employer elects in th...
In-Service Withdrawals. The provisions of Section 5.04 of the Plan shall not apply to the Special Retention Account to the extent they permit withdrawals or distributions before a Participant terminates employment with the Company, except that a Participant may apply to the Committee for such a withdrawal or distribution after July 1, 2001.
