Payment Form and Medium. The form of payment for an in-service withdrawal shall be a single lump sum and payment shall be made in cash. With regard to the portion of an in-service withdrawal representing an Eligible Rollover Distribution, a Participant may elect a Direct Rollover for all or a portion of such amount.
Payment Form and Medium. Except to the extent otherwise provided by Section 11.4, a Participant may elect to be paid in any of these forms:
(a) a single lump sum,
(b) a portion paid in a lump sum, and the remainder paid later, or
(c) periodic installments over a period not to exceed the life expectancy of the Participant and his or her Beneficiary. Distributions shall be made in cash, except to the extent a distribution consists of a loan call as described in Section 9. Alternatively, a Participant may elect that a lump sum payment be made in the form of whole shares of Company Stock and cash in lieu of fractional shares to the extent invested in the Company Stock Fund. With regard to the portion of a distribution representing an Eligible Rollover Distribution, a Distributee may elect a Direct Rollover for all or a portion of such amount.
Payment Form and Medium. Except to the extent otherwise provided by Section 11.4, a Participant may elect to be paid in any of these forms:
(a) a single lump sum;
(b) a portion paid in a lump sum, and the remainder paid later (partial payment); or
(c) periodic installments over a period not to exceed the life expectancy of the Participant and his or her Beneficiary. Distributions shall be made in cash, except to the extent a distribution consists of a loan call as described in Section 9. With regard to the portion of a distribution representing an Eligible Rollover Distribution, a Distributee may elect a Direct Rollover for all or a portion of such amount.
Payment Form and Medium. Except to the extent otherwise provided by Section 11.4, a Participant may elect to be paid in any of these forms:
(a) a single lump sum;
(b) a portion paid in a lump sum, and the remainder paid later (partial payment); or
(c) periodic installments over a period not to exceed the life expectancy of the Participant and his on her Beneficiary. Distributions shall be made in cash, except to the extent a distribution consists of a loan call as described in Section 9. Alternatively, a Participant may elect that a distribution in the form of a lump sum payment be made in the form of whole shares of Company Stock and cash in lieu of fractional shares (to the extent the distribution consists of amounts from the Company Stock Fund). With regard to the portion of a distribution representing an Eligible Rollover Distribution, a Distributee may elect a Direct Rollover for all or a portion of such amount.
Payment Form and Medium. Except to the extent otherwise provided by Section 11.5, a Participant may elect to be paid in any of these forms:
(a) a single sum,
(b) periodic installments over a period not to exceed the life expectancy of the Participant and his or her Beneficiary,
(c) a single life annuity or a joint and 50% or 100% survivor annuity, or
(d) a single life annuity with a 5-, 10- or 15-year term certain. A Participant who elects payment of his or her benefit in the form of periodic installments may make a separate election for his or her initial installment. The Participant may elect that his or her initial installment be (i) a specified dollar amount paid in cash plus whole shares of Company Stock and cash in lieu of fractional shares representing the balance of his or her investment in the Company Stock Fund or (ii) whole shares of Company Stock and cash in lieu of fractional shares representing the balance of his or her investment in the Company Stock Fund. A Participant who commences payment of his or her benefit in the form of periodic installments may (i) change the payment frequency and/or amount (other than to zero) of his or her periodic installment at any time, and without restriction as to the number of such changes that may be made, or (ii) change the amount of his or her periodic installment to zero concurrent with an election to be paid the
Payment Form and Medium. A Participant shall be paid in the form of a single lump sum. Notwithstanding, a Participant who is an Employee at the time he or she is required by law to commence distribution, or anytime thereafter, may instead elect to be paid annually in a lump sum an amount sufficient to comply with Code section 401(a)(9). 33 Distributions shall generally be made in cash. For distributions made after December 31, 1992, with regard to the portion of a distribution representing an Eligible Rollover Distribution, a Distributee may elect a Direct Rollover for all or a portion of such amount.
Payment Form and Medium. Except to the extent otherwise provided by Section 11.3, a Participant may elect to be paid in any of these forms:
(a) a single lump sum, or CHARTER ONE BANK, F.S.B. AMENDMENT NO. 5 EMPLOYEE SAVINGS PLAN AND TRUST
(b) a portion paid in a lump sum, and the remainder paid later. Distributions shall be made in cash, except to the extent a distribution consists of a loan call as described in Section 9. Alternatively, a Participant may elect that a lump sum payment be made in the form of whole shares of Company Stock and cash in lieu of fractional shares to the extent invested in the Company Stock Fund).
Payment Form and Medium. Except to the extent otherwise provided by Section 11.4, a Participant may elect to be paid in any of these forms, except that the form described in (c) is not effective until January 1, 1998:
(a) a single lump sum;
(b) a portion paid in a lump sum, and the remainder paid later (partial payment); or
(c) periodic installments over a period not to exceed the life expectancy of the Participant and his or her Beneficiary. Notwithstanding, in addition to the forms described above, to preserve benefits protected by Code section 411(d)(6), and subject to Section 11.11, a Participant whose Account includes an Annuity Eligible Balance in excess of $3,500, or that exceeded $3,500 at the time of any prior in-service withdrawal or distribution, may elect to have the portion of his or her benefit attributable to his or her Annuity Eligible Balance paid in the form of a single life annuity or a joint and 50% survivor annuity. Effective January 1, 1998, "$5,000" shall be substituted for each reference to "$3,500" in the preceding sentence. Any annuity option permitted shall be provided through the purchase of a non-transferable single premium contract from an insurance company which must conform to the terms of the Plan and which shall be distributed to the Participant or Beneficiary in complete satisfaction of the benefit due. Distributions other than annuity contracts shall be made in cash, except to the extent a distribution consists of a loan call as described in Section 9. With regard to the portion of a distribution representing an Eligible Rollover Distribution, a Distributee may elect a Direct Rollover for all or a portion of such amount.
Payment Form and Medium. The form of payment for an in-service withdrawal shall be a single lump-sum payment. A hardship in-service withdrawal by a Participant under age 591⁄2 is not an Eligible Rollover Distribution and the Participant may not elect a Direct Rollover. An in-service withdrawal from a Rollover Account or by a Participant age 591⁄2 or older is an Eligible Rollover Distribution, and the Participant may elect a Direct Rollover for the Eligible Rollover Distribution portion of his or her in-service withdrawal.
Payment Form and Medium. Except to the extent otherwise provided by Section 11.4, a Participant may elect to be paid in any of these forms:
(a) A single lump sum, or
(b) Periodic installments over a period not to exceed the lesser of fifteen (15) years or the number of years determined in accordance with Section 11.9, or
(c) A partial lump sum, or
(d) A combination of the above. The payment forms set forth in this Section 11.3 shall also apply to death benefit payments to a surviving spouse Beneficiary or a nonspouse Beneficiary, except that (i) periodic installment payments to a surviving spouse Beneficiary must be paid over a period not to exceed the life expectancy of the surviving spouse Beneficiary and begin by not later than the Participant’s Required Beginning Date as defined in Plan Section 1.51 and (ii) periodic installment payments to a nonspouse Beneficiary must be paid over a period not to exceed the lesser of the life expectancy of the nonspouse Beneficiary or fifteen (15) years and begin by the date specified in Plan Section 11.9(b)(ii)(B).
