Lump Sum Distribution. Effective July 1, 2022, bargaining unit employees will receive a lump sum amount as shown in subsection B, who:
Lump Sum Distribution. A Participant may take a distribution of his/her entire vested Account Balance in a single lump sum upon termination of employment. The Plan Administrator may, in its discretion, permit Participants to take distributions of less than their entire vested Account Balance provided, if the Plan Administrator permits multiple distributions, all Participants are allowed to take multiple distributions upon termination of employment. In addition, the Plan Administrator may permit a Participant to take partial distributions or installment distributions solely to the extent necessary to satisfy the required minimum distribution rules under Section 8 of the Plan. Additional distribution options. To provide for additional distribution options, check the applicable distribution forms under this AA §9-1.
Lump Sum Distribution. An amount equal to the present value of the Participant's total Reduced Retirement Benefit shall be paid to the Participant in one lump sum distribution on the first business day of the second month following the Participant's termination of employment. For purposes of determining the present value of the Participant's total Reduced Retirement Benefit, the Discount Rate which exists on the date of the Participant's termination of employment shall be used.
Lump Sum Distribution. Unless selected otherwise under subsection (e) below, a Participant may take a distribution of his/her entire vested Account Balance in a single lump sum. Additional distribution options. To provide for additional distribution options, check the applicable distribution forms under this AA §9-1. If a lump sum distribution will not be provided under the Plan, check (e) below and indicate that no lump sum distribution is available under the Plan.
Lump Sum Distribution. I understand that none of the benefits distributed from the Agreement are eligible for tax-free rollover and I will be required to pay income tax on the amounts when they are paid to me.
Lump Sum Distribution. A Participant may elect, in accordance with such procedures established by the Committee, to have any vested deferral amounts credited to his Accounts paid in the form of a single lump sum distribution at the time otherwise required or permitted under the Plan.
Lump Sum Distribution. In addition to any Qualified Joint and Survivor Annuity (as required under Section 9 of the Plan), a Participant may take a distribution of his/her entire vested Account Balance in a single lump sum, unless designated otherwise under subsection (e) below. Additional distribution options. To provide for additional distribution options, check the applicable distribution forms under this AA §9-1. If a lump sum distribution will not be provided under the Plan, check (e) below and indicate that no lump sum distribution is available under the Plan.
Lump Sum Distribution. For any professional employee electing to take a lump sum salary payment upon completion of all contractual obligations in accordance with K.S.A. 74-4940, the Board shall make the appropriate KNEA dues deduction from the lump sum salary payment and remit the amount so deducted to the KNEA at the time lump sum deductions are made.
Lump Sum Distribution. 00 Each non-regular periodic distribution............................ 15.00 Refund of excess contributions.................................... 15.00 Transfer of funds to successor custodian..........................
Lump Sum Distribution. The Trustees, in their sole discretion, may provide for payment in one lump sum, on an Actuarial Equivalent basis, of benefits which would otherwise be payable in small amounts monthly for life or a period of years; provided, however, that the present value of such benefits (including Employee contributions) may not result in a payment of a lump sum which will exceed five-thousand dollars ($5,000). For purposes of this Section 10.06, present value shall be calculated using interest rate and mortality table as provided in Section 1.02 (Actuarial Equivalent).
