Common use of Involuntary Cash Clause in Contracts

Involuntary Cash. Out Distribution threshold. A terminated Participant will receive an Involuntary Cash- Out Distribution only if the Participant’s vested Account Balance is less than or equal to $0.00 (the amount may exceed $5,000, including designating the entire vested Account Balance.)

Appears in 3 contracts

Samples: Volume Submitter Governmental 403(b) Plan Adoption Agreement, Volume Submitter Governmental 403(b) Plan Adoption Agreement, Volume Submitter Governmental 403(b) Plan Adoption Agreement

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Involuntary Cash. Out Distribution threshold. A terminated Participant will receive an Involuntary Cash- Out Distribution only if the Participant’s vested Account Balance is less than or equal to $0.00 $ (the amount may exceed $5,000, including designating the entire vested Account Balance.)

Appears in 1 contract

Samples: 403(b) Plan Adoption Agreement

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Involuntary Cash. Out Distribution threshold. A terminated Participant will receive an Involuntary Cash- Out Distribution only if the Participant’s vested Account Balance is less than or equal to $0.00 5,000 (the amount may exceed $5,000, including designating the entire vested Account Balance.) 🞎 (2) Distribution upon attainment of stated age. Participant consent will not be required with respect to distributions made upon attainment of Normal Retirement Age (or age 62, if later), regardless of the value of the Participant’s vested Account Balance.

Appears in 1 contract

Samples: 403(b) Plan Adoption Agreement

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