Installment distributions Sample Clauses

Installment distributions. A Participant may take a distribution over a specified period not to exceed the life or life expectancy of the Participant (and a designated beneficiary).

Installment distributions. This Section shall be interpreted and applied in accordance with the regulations under Section 401(a)(9) of the Code, including the minimum distribution incidental benefit requirement of Section 1.401(a)(9)-2 of the Proposed Treasury Regulations, or any successor regulations of similar import.

Installment distributions. To the extent elected by the Employer in the Adoption Agreement, a Participant may elect to receive payments from his Accounts in the form of a single lump sum, as described in Section 9.1, or in annual installments over a period elected by the Employer in the Adoption Agreement. To the extent a Participant fails to make an election, the Participant shall be deemed to have elected to receive his distribution for that Plan Year in the form of a single lump sum. To the extent elected by the Employer in the Adoption Agreement, a Participant may make a separate election with respect to his Performance-Based Bonus Deferrals for each year (as adjusted for gains and losses thereon) that provides for a different method of distribution from the method of distribution he elects with respect to his Compensation Deferrals (as adjusted for gains and losses thereon) for that year. The Participant’s Employer Contributions Account attributable to such year, if any (as adjusted for gains and losses thereon), shall be distributed in the same manner as his Compensation Deferral Account for such year (or in a lump sum upon his Termination Date if no election has been made).

Installment distributions in a series of annual, quarterly or monthly installment distributions. At any time after the commencement of such distributions, the Beneficiary may elect to increase, decrease or stop such distributions, subject, however, to Section 8.5.3.

Installment distributions. A Participant may take a distribution over a specified period not to exceed the life or life expectancy of the Participant (and a designated beneficiary). 🗹 (c) Installment distribution for required minimum distributions. A Participant may take an installment distribution solely to the extent necessary to satisfy the required minimum distribution rules under Section 8.11 of the Plan. 🗹 (d) Annuity distributions. A Participant may elect to have the Plan Administrator use the Participant’s vested Account Balance to purchase an annuity as described in Section 8.02 of the Plan. 🞎 (e) Describe: [Note: Any distribution option described in (e) will apply uniformly to all Participants under the Plan and may not be subject to the discretion of the Employer or Plan Administrator.] 9-2 QUALIFIED JOINT AND SURVIVOR ANNUITY RULES. This Plan is not subject to the Qualified Joint and Survivor Annuity rules, except to the extent required under Section 9.01 of the Plan (e.g., if the Plan is a Transferee Plan). Upon termination of employment, a Participant may receive a distribution from the Plan, in accordance with the provisions of AA §9-3, in any form allowed under AA §9-1. (If any portion of this Plan is subject to the Qualified Joint and Survivor Annuity rules, the QJSA and QPSA provisions will automatically apply to such portion of the Plan.) To override this default provision, complete the applicable sections of this AA §9-2. (a) Qualified Joint and Survivor Annuity rules. Check this (a) to apply the Qualified Joint and Survivor rules to the entire Plan. If this (a) is checked, all distributions from the Plan must satisfy the QJSA and QPSA requirements under Section 9 of the Plan, with the following modifications: (1) No modifications. (2) Modified QJSA benefit. Instead of a 50% survivor benefit, the spouse’s survivor benefit is: 🞎 (i) 100%. 🞎 (ii) 75%. 🞎 (iii) 66-2/3%. (3) Modified QPSA benefit. Instead of a 50% QPSA benefit, the QPSA benefit is 100% of the Participant’s vested Account Balance. (b) One-year marriage rule. The one-year marriage rule does not apply unless this (b) is checked. See Section 9.04(c)(2) of the Plan. 9-3 TIMING OF DISTRIBUTIONS UPON TERMINATION OF EMPLOYMENT. (a) Distribution of vested Account Balances exceeding $5,000. A Participant who terminates employment with a vested Account Balance exceeding $5,000 may receive a distribution of his/her vested Account Balance in any form permitted under AA §9-1 within a reasonable period following: 🗹 ...

Installment distributions. To the extent elected by the Employer in the Adoption Agreement, a Participant may elect to receive payments from his Accounts in the form of a single lump sum, as described in Section 9.1, or in annual installments over a period elected by the Employer in the Adoption Agreement. To the extent a Participant fails to make an election, the Participant shall be deemed to have elected to receive his distribution of amounts deferred under the Plan for that Plan Year in the form of a single lump sum. To the extent elected by the Employer in the Adoption Agreement, a Participant may make a separate election with respect to his Performance-Based Bonus Deferrals for each Plan Year (as adjusted for gains and losses thereon) that provides for a different method of distribution from the method of distribution he elects with respect to his Compensation Deferrals (as adjusted for gains and losses thereon) for that Plan Year. The Participant’s Employer Contributions Account attributable to such year, if any (as adjusted for gains and losses thereon), shall be distributed in the same manner as his Compensation Deferral Account for such year (or in a lump sum upon his Termination Date if no election has been made).

Installment distributions. In the case of distributions over life expectancy in equal or substantially equal annual payments, to determine the minimum annual payment for each Year, the Participant's entire interest in the Account as of the close of business on December 31 of the preceding Year shall be divided by the life expectancy of the Participant (or the joint life and last survivor expectancy of the Participant and the Participant's designated Beneficiary, or the life expectancy of the designated Beneficiary, whichever applies). The minimum annual payment may be made in a series of installments (e.g., monthly, quarterly, etc.) as long as the total payments for the Year made by the required date are not less than the minimum amounts required. Distributions shall be made pursuant to instructions received from the Participant or Beneficiary in accordance with the Regulations under Section 401(a)(9) of the Code.

Installment distributions. If a Participant has selected an annual installment distribution in the Election Form, each annual installment distribution must be for a minimum of 50 shares of Stock. If any Participant has selected an installment distribution which would require the Company to distribute less than 50 shares of Stock, the Participant’s Election Form shall be deemed revised to have originally required at least 50 shares of Stock to be distributed at each installment date. If a Participant is receiving installment distributions under the Plan, or has selected installment distributions at some future date, and terminates Service prior to the conclusion of such distributions, the Participant’s entire account balance shall be distributed in a single lump sum.