METHOD OF PAYMENT OF ACCRUED BENEFIT. Subject to the annuity distribution requirements, if any, prescribed by Section 6.04, and any restrictions prescribed by Section 6.03, a Participant or Beneficiary may elect distribution under one, or any combination, of the following methods: (a) by payment in a lump sum; or (b) by payment in monthly, quarterly or annual installments over a fixed reasonable period of time, not exceeding the life expectancy of the Participant, or the joint life and last survivor expectancy of the Participant and his Beneficiary. The Employer may elect in its Adoption Agreement to modify the methods of payment available under this Section 6.02. The distribution options permitted under this Section 6.02 are available only if the present value of the Participant Nonforfeitable Accrued Benefit, at the time of the distribution to the Participant, exceeds $3,500. To facilitate installment payments under this Article VI, the Advisory Committee may direct the Trustee to segregate all or any part of the Participant's Accrued Benefit in a separate Account. The Trustee will invest the Participant's segregated Account in Federally insured interest bearing savings account(s) or time deposit(s) (or a combination of both), or in other fixed income investments. A segregated Account remains a part of the Trust, but it alone shares in any income it earns, and it alone bears any expense or loss it incurs. A Participant or Beneficiary may elect to receive an installment distribution in the form of a Nontransferable Annuity Contract. Under an installment distribution, the Participant or Beneficiary, at any time, may elect to accelerate the payment of all, or any portion, of the Participant's unpaid Nonforfeitable Accrued Benefit, subject to the requirements of Section 6.04.
METHOD OF PAYMENT OF ACCRUED BENEFIT. The Advisory Committee will apply Section 6.02 of the Plan with the following modifications: (Choose (a) or at least one of (b) (c), (d) and (e))
METHOD OF PAYMENT OF ACCRUED BENEFIT. The Advisory Committee ------------------------------------ will apply Section 6.02 of the Plan with the following modifications: (Choose (a) or at least one of (b), (c), (d) and (e))
(a) No modifications.
(b) Except as required under Section 6.01 of the Plan, a lump sum distribution is not available: . ----------------------------------------
(c) An installment distribution: (Choose (1) or at least one of (2) or (3))
(1) Is not available under the Plan.
(2) May not exceed the lesser of years or the maximum -------- period permitted under Section 6.02. [ ] (3) (Specify) . ----------------------------------------
(d) The Plan permits the following annuity options: --------------- . -----------------------------------------------
METHOD OF PAYMENT OF ACCRUED BENEFIT. The Administrative Committee will apply Section 6.02 of the Plan with the following modifications: (Choose (a) or at least one of (b), (c), (d) and (e))
(a) No modifications.
(b) Except as required under Section 6.01 of the Plan, a lump sum distribution is not available: ___.
(c) An installment distribution: (Choose (1) or at least one of (2) or (3))
(1) Is not available under the Plan.
(2) May not exceed the lesser of _ years or the maximum period permitted under Section 6.02. [ ] (3) (Specify) ___.
(d) The Plan permits the following annuity options: ___.
METHOD OF PAYMENT OF ACCRUED BENEFIT. Subject to the annuity distribution requirements, if any, prescribed by Section 6.04, and any restrictions prescribed by Section 6.03, a Participant or Beneficiary may elect distribution under one, or any combination, of the following methods: (a) by payment in a lump sum; or (b) by payment in monthly, quarterly or annual installments over a fixed reasonable period of time, not exceeding the life expectancy of the Participant, or the joint life and last survivor expectancy of the Participant and his Beneficiary. The Employer may elect in its Adoption Agreement to modify the methods of payment available under this Section 6.02.
METHOD OF PAYMENT OF ACCRUED BENEFIT. The Advisory Committee will apply Section 6.02 of the Plan with the following modifications: (CHOOSE (A) OR AT LEAST ONE OF (B), (C), (D) AND (E))
(a) No modifications.
(b) Except as required under Section 6.01 of the Plan, a lump sum distribution is not available: [X]
(c) An installment distribution: (CHOOSE (1) OR AT LEAST ONE OF (2) OR (3))
(1) Is not available under the Plan.
(2) May not exceed the lesser of ______ years or the maximum period permitted under Section 6.02. [ ] (3) (SPECIFY) _______________________________________________.
(d) The Plan permits the following annuity options: _______________________________________________. Any Participant who elects a life annuity option is subject to the requirements of Sections 6.04(A), (B), (C) and (D) of the Plan. See Section 6.04(E). [NOTE: THE EMPLOYER MAY SPECIFY ADDITIONAL ANNUITY OPTIONS IN AN ADDENDUM TO THIS ADOPTION AGREEMENT, NUMBERED 6.02(D).]
(e) If the Plan invests in qualifying Employer securities, as described in Section 10.03(F), a Participant eligible to elect distribution under Section 6.03 may elect to receive that distribution in Employer securities only in accordance with the provisions of the addendum to this Adoption Agreement, numbered 6.02(e).
METHOD OF PAYMENT OF ACCRUED BENEFIT. The Advisory Committee will apply Section 6.02 of the Plan with the following modifications: (Choose (a) or at least one of (b), (c), (d) and (e))
(a) No modifications.
(b) Except as required under Section 6.01 of the Plan, a lump sum distribution is not available: ___.
(c) An installment distribution: (Choose (1) or at least one of (2) or (3))
(1) Is not available under the Plan.
METHOD OF PAYMENT OF ACCRUED BENEFIT. The Advisory Committee will apply Section 6.02 of the Plan with the following modifications: (Choose (a) or (b))
(a) No modifications.
(b) The Plan permits the following annuity options: ----------------------------------------------------------------. Any Participant who elects a life annuity option is subject to the requirements of Sections 6.04(A), (B), (C) and (D) of the Plan. See Section
METHOD OF PAYMENT OF ACCRUED BENEFIT. Subject to the annuity distribution requirements, if any, prescribed by Section 6.04, and any restrictions prescribed by Section 6.03, a
METHOD OF PAYMENT OF ACCRUED BENEFIT. The Advisory Committee will apply Section 6.02 of the Plan with the following modifications: (Choose (a) or at least one of (b), (c), (d) and (e))
(a) No modifications.
(b) Except as required under Section 6.01 of the Plan, a lump sum distribution is not available:___________________________________________ __________________________________________________________________________ ________________________________________________________________.
(c) An installment distribution: (Choose (1) or at least one of (2) or (3))
(1) Is not available under the Plan.
(2) May not exceed the lesser of __________________ years or the maximum period permitted under Section 6.02. [ ] (3) (Specify) _____________________________________________________ _____________________________________________________________________ ________________________________.
(d) The Plan permits the flowing annuity options: _______________________ _________________________________________________________________________ ___________________________________________________________________. Any Participant who elects a life annuity option is subject to the requirements of Sections 6.04(A), (B), (C) and (D) of the Plan. See Section
