Common use of PERIODIC DISTRIBUTION Clause in Contracts

PERIODIC DISTRIBUTION. An amount equal to the present value of the Participant's total Normal Retirement Benefit shall be credited to an Installment Payment Account and shall be payable in up to 180 successive monthly installments. The first payment shall commence on the first business day of the second month following the date of termination of employment, and each successive payment shall occur monthly in succeeding months on the first business day of such months. In order for Participant to elect a Periodic Distribution under the terms of this Section 2.7(b), the Participant must elect, in this taxable year (or years) prior to the Participant's termination of employment with the Employer, both the Periodic Distribution option and the number of monthly installments to be made (up to a maximum of 180). For purposes of determining the present value of the Participant's total Normal Retirement Benefit the Discount Rate which exists on the date of the Participant's termination of employment shall be used. To determine the amount of each installment payment, a fraction shall be applied to the Participant's Installment Payment Account on each payment date. The numerator shall consist of one (1) and the denominator shall consist of the total number of installment payments remaining (including the current payment). During the installment payment period, interest shall be credited to the Participant's Installment Payment Account on a monthly basis using the Applicable Federal Rate in existence on the first business day of each month during which payments are made.

PERIODIC DISTRIBUTION. An amount equal to the present value of the Participant's total Normal Reduced Retirement Benefit shall be credited to an Installment Payment Account and shall be payable in up to 180 successive monthly installments. The first payment shall commence on the first business day of the second month following the date of termination of employment, and each successive payment shall occur monthly in succeeding months on the first business day of such months. In order for Participant to elect a Periodic Distribution under the terms of this Section 2.7(b2.3(b), the Participant must elect, in this the taxable year (or years) prior to the Participant's termination of employment with the Employer, both the Periodic Distribution option and the number of monthly installments to be made (up to a maximum of 180). For purposes of determining the present value of the Participant's total Normal Reduced Retirement Benefit Benefit, the Discount Rate which exists on the date of the Participant's termination of employment shall be used. To determine the amount of each installment payment, a fraction shall be applied to the Participant's Installment Payment Account on each payment date. The numerator shall consist of one (1) and the denominator shall consist of the total number of installment payments remaining (including the current payment). During the installment payment period, interest shall be credited to the Participant's Installment Payment Account on a monthly basis using the Applicable Federal Rate in existence on the first business day of each month during which payments are made.

PERIODIC DISTRIBUTION. An amount equal to the present value of the Participant's total Normal Retirement Benefit shall be credited to an Installment Payment Account and shall be payable in up to 180 successive monthly installments. The first payment shall commence on the first business day clay of the 9 second month following the date of termination of employment, and each successive payment shall occur monthly in succeeding months on the first business day of such months. In order for Participant to elect a Periodic Distribution under the terms of this Section 2.7(b2.7 (b), the Participant must elect, in this the taxable year (or years) prior to the Participant's termination of employment with the Employer, both the Periodic Distribution option and the number of monthly installments to be made (up to a maximum of 180). For purposes of determining the present value of the Participant's Participants total Normal Retirement Benefit Benefit, the Discount Rate which exists on the date of the Participant's termination of employment shall be used. To determine the amount of each installment payment, a fraction shall be applied to the Participant's Participants Installment Payment Account on each payment date. The numerator shall consist of one (1) and the denominator shall consist of the total number of installment payments remaining (including the current payment). During the installment payment period, interest shall be credited to the Participant's Participants Installment Payment Account on a monthly basis using the Applicable Federal Rate in existence on the first business day of each month during which payments are made.

PERIODIC DISTRIBUTION. An amount equal to the present value of the Participant's total Normal Reduced Retirement Benefit shall be credited to an Installment Payment Account and shall be payable in up to 180 successive monthly installments. The first payment shall commence on the first business day of the second month following the date of termination of employment, and each successive payment shall occur monthly in succeeding months on the first business day of such months. In order for Participant to elect a Periodic Distribution under the terms of this Section 2.7(b2.3(b), the Participant must elect, in this the taxable year (or years) prior to the Participant's termination of employment with the Employer, both the Periodic Distribution option and the number of monthly installments to be made (up to a maximum of 180). For purposes of determining the present value of the Participant's total Normal Reduced Retirement Benefit Benefit, the Discount Rate which exists on the date of the Participant's termination of employment shall be used. To determine the amount of each installment payment, a fraction shall be applied to the Participant's 7 Installment Payment Account on each payment date. The numerator shall consist of one (1) and the denominator shall consist of the total number of installment payments remaining (including the current payment). During the installment payment period, interest shall be credited to the Participant's Installment Payment Account on a monthly basis using the Applicable Federal Rate in existence on the first business day of each month during which payments are made.

PERIODIC DISTRIBUTION. An amount equal to the present value of the Participant's total Normal Reduced Retirement Benefit shall be credited to an Installment installment Payment Account and shall be payable in up to 180 successive monthly installments. , The first payment shall commence on the first business day of Of the second month following the date of termination of Of employment, and each successive payment shall occur monthly in succeeding months on the first business day of such months. In order for Participant to elect a Periodic Distribution under the terms of this Section 2.7(b2.3 (b), the Participant must elect, in this the taxable year (or years) prior to the Participant's termination of employment with the Employer, both the Periodic Distribution option and the number of monthly installments to be made (up to a maximum of 180). For purposes of determining the present value of the Participant's Participants total Normal Reduced Retirement Benefit Benefit, the Discount Rate which exists on the date of the Participant's termination of employment shall be used. , To determine the amount of each installment payment, a fraction traction shall be applied to the Participant's Participants Installment Payment Account on each payment date. The numerator shall consist of one (1) and the denominator shall consist of the total number of installment payments remaining (including the current payment). During the installment payment period, interest shall be credited to the Participant's Participants Installment Payment Account on a monthly basis using the Applicable Federal Rate in existence on the first business day of each month during which payments are made.

PERIODIC DISTRIBUTION. An amount equal to the present value of the Participant's total Normal Retirement Benefit shall be credited to an Installment Payment Account and shall be payable in up to 180 successive monthly installments. The first payment shall commence on the first business day of the second month following the date of termination of employment, and each successive payment shall occur monthly in succeeding months on the first business day of such months. In order for Participant to elect a Periodic Distribution under the terms of this Section 2.7(b2.6 (b), the Participant must elect, in this the taxable year (or years) prior to the Participant's termination of employment with the Employer, both the Periodic Distribution option and the number of monthly installments to be made (up to a maximum of 180). For purposes of determining the present value of the Participant's total Normal Retirement Benefit Benefit, the Discount Rate which exists on the date of the Participant's termination of employment shall be used. To determine the amount of each installment payment, a fraction shall be applied to the Participant's Installment Payment Account on each payment date. The numerator shall consist of one (1) and the denominator shall consist of the total number of installment payments remaining (including the current payment). During the installment payment period, interest shall be credited to the Participant's Installment Payment Account on a monthly basis using the Applicable Federal Rate in existence on the first business day of each month during which payments are made.

PERIODIC DISTRIBUTION. An amount equal to the present value of the Participant's total Normal Reduced Retirement Benefit shall be credited to an Installment Payment Account and shall be payable in up to 180 successive monthly installments. The first payment shall commence on the first business day of the second month following the date of termination of employment, and each successive payment shall occur monthly in succeeding months on the first business day of such months. In order for Participant to elect a Periodic Distribution under the terms of this Section 2.7(b2.3 (b), the Participant must elect, in this the taxable year (or years) prior to the Participant's termination of employment with the Employer, both the Periodic Distribution option and the number of monthly installments to be made (up to a maximum of 180). For purposes of determining the present value of the Participant's total Normal Reduced Retirement Benefit Benefit, the Discount Rate which that exists on the date of the Participant's termination of employment shall be used. To determine the amount of each installment payment, a fraction shall be applied to the Participant's Installment Payment Account on each payment date. The numerator shall consist of one one; (1) and the denominator shall consist of the total number of installment payments remaining (including the current payment). During the installment payment period, interest shall be credited to the Participant's Installment Payment Account on a monthly basis using the Applicable Federal Rate in existence on the first business day of each month during which payments are made.