Nonforfeitable Accrued Benefit More Than Threshold. In the event a Participant’s Separation from Service is for any reason other than his or her death or Disability, and if his or her Nonforfeitable Accrued Benefit is more than $5,000 (effective as of January 1, 2024 the threshold is $7,000), the Plan Administration Committee shall direct the Trustee to distribute such Participant’s Nonforfeitable Accrued Benefit in a form and at the time elected by such Participant pursuant to Section 6.10. If such Participant fails to make such an election within six (6) months after his or her receipt of the written notice required under Section 6.10, then the Plan Administration Committee may direct the Trustee to distribute to such Participant his or her Nonforfeitable Accrued Benefit in the form of a lump sum distribution, except as otherwise provided in Section 6.6 to the contrary, on any distribution date the Plan Administration Committee, in its discretion, may select.
Nonforfeitable Accrued Benefit More Than Threshold. In the event that a Participant incurs a Separation from Service on account of his or her death, and if his or her Nonforfeitable Accrued Benefit is more than $5,000 (effective as of January 1, 2024 the threshold is $7,000), the Plan Administration Committee shall direct the Trustee to distribute such deceased Participant’s Nonforfeitable Accrued Benefit at the time and in the form elected by such Participant or, if applicable, by such Participant’s Beneficiary, as permitted under this Article 6. In the absence of such election, the Plan Administration Committee may direct the Trustee to distribute to such deceased Participant’s designated Beneficiary such Participant’s Nonforfeitable Accrued Benefit in the form of a lump sum distribution, except as otherwise provided in Section 6.6 to the contrary, on any distribution date, as soon as administratively practicable following the death of such Participant, that the Plan Administration Committee, in its discretion, may select, or, if later, on any distribution date, as soon as administratively practicable following the date the Plan Administration Committee receives notification of, or otherwise confirms, such Participant’s death, that the Plan Administration Committee, in its discretion, may select.
