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.
Appears in 5 contracts
Samples: Defined Contribution Prototype Plan and Trust Agreement (Bankunited Financial Corp), Defined Contribution Master Plan and Trust Agreement (American Stone Industries Inc), 401(k) Plan (Diamond Technology Partners Inc)
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.
Appears in 3 contracts
Samples: Adoption Agreement (Ifb Holdings Inc), Defined Contribution Prototype Plan and Trust Agreement (High Country Bancorp Inc), Defined Contribution Prototype Plan and Trust Agreement (Global Imaging Systems Inc)
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.
Appears in 1 contract
Samples: Defined Contribution Prototype Plan and Trust Agreement (Indian Village Bancorp Inc)
