Normal Retirement Benefits. A Participant shall be entitled to receive the balance held in his or her account upon attaining his or her Normal Retirement Age or at such earlier dates as the provisions of this Article VI may permit. If a Participant elects to continue working past his or her Normal Retirement Age, he or she will continue as an active Participant. Unless the Employer elects otherwise in the Adoption Agreement, distribution shall be made to such Participant at his or her request prior to his or her actual retirement. Distribution shall be made in the normal form, or if elected, in one of the optional forms of payment provided below.
Appears in 11 contracts
Samples: Prototype Defined Contribution Plan (United Community Bancorp), Prototype Defined Contribution Plan (FNB United Corp.), Nonstandardized Adoption Agreement (Chicopee Bancorp, Inc.)
Normal Retirement Benefits. A Participant shall be entitled to receive the balance held in his or her account upon attaining his or her Normal Retirement Age or at such earlier dates as the provisions of this Article VI and the Adoption Agreement may permit. If a Participant elects to continue working past his or her Normal Retirement Age, he or she will continue as an active Participant. Unless If the Employer elects otherwise in the Adoption Agreement, distribution shall be made to such Participant at his or her request prior to his or her actual retirement. Distribution shall be made in the normal form, or if elected, in one of the optional forms of payment provided belowin the Adoption Agreement.
Appears in 9 contracts
Samples: Prototype Defined Contribution Plan (1st Constitution Bancorp), Prototype Defined Contribution Plan (Wellesley Bancorp, Inc.), Prototype Defined Contribution Plan (Savannah Bancorp Inc)
Normal Retirement Benefits. A Participant shall be entitled to receive the balance held in his or her account from Employer contributions upon attaining his or her Normal Retirement Age or at such earlier dates as the provisions of this Article VI may permitallow. If a the Participant elects to continue working past his or her Normal Retirement Age, he or she will continue as an active Participant. Unless Plan Participant and no distribution shall be made to such Participant until his or her actual retirement date unless the Employer employer elects otherwise in the Adoption Agreement, or a minimum distribution shall be made to such Participant at his or her request prior to his or her actual retirementis required by law. Distribution Settlement shall be made in the normal form, or if elected, elected in one of the optional forms of payment provided below.
Appears in 5 contracts
Samples: First Keystone Corp, Berkshire Hills Bancorp Inc, Port Financial Corp
Normal Retirement Benefits. A Participant shall be entitled to receive the balance held in his or her account from Employer contributions upon attaining his or her Normal Retirement Age or at such earlier dates as the provisions of this Article VI may permitallow. If a the Participant elects to continue working past his or her Normal Retirement Age, he or she will continue as an active Participant. Unless Plan Participant and no distribution shall be made to such Participant until his or her actual retirement date unless the Employer employer elects otherwise in the Adoption Agreement, or a minimum distribution shall be made to such Participant at his or her request prior to his or her actual retirementis required by law. Distribution Settlement shall be made in the normal form, or if elected, in one of the optional forms of payment provided below.
Appears in 5 contracts
Samples: East West Bancorp Inc, Adoption Agreement (Shared Technologies Cellular Inc), Non Standardized Adoption Agreement (Princeton Review Inc)
Normal Retirement Benefits. A Participant shall be entitled to receive the balance held in his or her account from Employer contributions upon attaining his or her Normal Retirement Age or at such earlier dates as the provisions of this Article VI may permitallow. If a the Participant elects to continue working past his or her Normal Retirement Age, he or she will continue as an active Participant. Unless Plan Participant and no distribution shall be made to such Participant until his or her actual retirement date, unless the Employer elects otherwise in the Adoption Agreement, or a minimum distribution shall be made to such Participant at his or her request prior to his or her actual retirementis required by law. Distribution Settlement shall be made in the normal form, or if elected, in one of the optional forms of payment provided below.
Appears in 1 contract
Samples: Standarized Adoption Agreement (Oregon Trail Financial Corp)
Normal Retirement Benefits. A Participant shall be entitled to receive the balance held in his or her account from Employer contributions upon attaining his or her reaching Normal Retirement Age or at such earlier dates as the provisions of this Article VI may permitallow. If a the Participant elects to continue working past his or her Normal Retirement Age, he or she will continue as an active Plan Participant. Unless the Employer elects otherwise in the Adoption Agreement, distribution shall be made to such Participant at his or her request prior to his or her actual retirementretirement date. Distribution Settlement shall be made in the normal form, or if elected, in one of the optional forms of payment provided below.
Appears in 1 contract
