Common use of One-Time In-Service Withdrawal Option Clause in Contracts

One-Time In-Service Withdrawal Option. If this is a profit sharing plan and the Employer has elected the one-time in-service withdrawal option in the Adoption Agreement, then Participants will be permitted only one in-service withdrawal during the course of such Participants employment with the Employer. The amount which the Participant can withdraw will be limited to the lesser of the amount determined under the limits set forth in Section 6.01(A)(3) or the percentage of the Participant's Individual Account specified by the Employer in the Adoption Agreement. Distributions under this Section will be subject to the requirements of Section 6.05.

Appears in 12 contracts

Samples: 401(k) Savings Plan (Alaska Pacific Bancshares Inc), Qualified Retirement Plan (Teardrop Golf Co), Adoption Agreement (Bradford Funds Inc)

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One-Time In-Service Withdrawal Option. If this is a profit sharing plan and the Employer has elected the one-time in-service onetime inservice withdrawal option in the Adoption Agreement, then Participants will be permitted only one in-service inservice withdrawal during the course of such Participants employment with the Employer. The amount which the Participant can withdraw will be limited to the lesser lesser. of the amount determined under the limits set forth in Section 6.01(A)(3) or the percentage of the Participant's Individual Account specified by the Employer in the Adoption Agreement. Distributions under this Section will be subject to the requirements of Section 6.05.

Appears in 1 contract

Samples: Basic Plan Document (Nabi /De/)

One-Time In-Service Withdrawal Option. If this is a profit sharing plan and the Adopting Employer has elected the one-time in-service withdrawal option in the Adoption Agreement, then Participants a Participant will be permitted only one in-service withdrawal during the course of such Participants Participant's employment with the Employer. The amount which the Participant can withdraw will be limited to the lesser of the amount determined under the limits set forth in Section 6.01(A)(35.01(A)(4) of the Plan or the percentage of the Participant's Individual Account specified by the Adopting Employer in the Adoption Agreement. Distributions under this Section 5.01(A)(7) will be subject to the requirements of Section 6.055.13 of the Plan.

Appears in 1 contract

Samples: Retirement Plan Document (Merchants & Manufacturers Bancorporation Inc)

One-Time In-Service Withdrawal Option. If this is a profit sharing plan and the Employer has elected the one-time in-service onetime inservice withdrawal option in the Adoption Agreement, then Participants will be permitted only one in-service inservice withdrawal during the course of such Participants employment with the Employer. The amount which the Participant can withdraw will be limited to the lesser of the amount determined under the limits set forth in Section 6.01(A)(3) or the percentage of the Participant's Individual Account specified by the Employer in the Adoption Agreement. Distributions under this Section will be subject to the requirements of Section 6.05.

Appears in 1 contract

Samples: Basic Plan Document (Nabi /De/)

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One-Time In-Service Withdrawal Option. If this is a profit sharing plan and the Employer has elected the one-time onetime in-service withdrawal option in the Adoption Agreement, then Participants will be permitted only one in-service inservice withdrawal during the course of such Participants employment with the Employer. The amount which the Participant can withdraw will be limited to the lesser of the amount determined under the limits set forth in Section 6.01(A)(3) or the percentage of the Participant's Individual Account specified by the Employer in the Adoption Agreement. Distributions under this Section will be subject to the requirements of Section 6.05.

Appears in 1 contract

Samples: Basic Plan Document (Peabody Energy Corp)

One-Time In-Service Withdrawal Option. If this is a profit sharing plan and the Employer has elected the one-one time in-service withdrawal option in the Adoption Agreement, then Participants will be permitted only one in-service withdrawal during the course of such Participants employment with the Employer. The amount which the Participant can withdraw will be limited to the lesser of the amount determined under the limits set forth in Section 6.01(A)(3) or the percentage of the Participant's Individual Account specified by the Employer in the Adoption Agreement. Distributions under this Section will be subject to the requirements of Section 6.05.

Appears in 1 contract

Samples: Prototype Defined Contribution Plan and Trust/Custodial Account (Connecticut Water Service Inc / Ct)

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