Common use of Safe Harbor Rules Clause in Contracts

Safe Harbor Rules. (i) This Subsection shall apply to a Participant in a profit-sharing plan, and to any distribution, made on or after the first day of the first Plan 'tear beginning after December 31, 1988, from or under a separate account attributable solely to accumulated deductible employee contributions, as defined in section 72(o)(5)(B) of the Code, and maintained on behalf of a participant in a money purchase pension plan, (including a target benefit plan) if the following conditions are satisfied: (1) the Participant does not or cannot elect payments in the form of a life annuity; and (2) on the death of a Participant, the Participant's vested Account balance will be paid to the Participant's surviving spouse, but if there is no surviving spouse, or if the surviving spouse has consented in a manner conforming to a qualified election, then to the Participant's designated beneficiary. The surviving spouse may elect to have distribution of the vested Account balance commence within the 90 day period following the date of the Participant's death. The Account balance shall be adjusted for gains or losses occurring after the Participant's death in accordance with the provisions of the Plan governing the adjustment of Account balances for other types of distributions. This Subsection (e) shall not be operative with respect to a Participant in a profit-sharing plan if the plan is a direct or indirect transferee of a defined benefit plan, money purchase plan, a target benefit plan, stock bonus, or profit-sharing plan which is subject to the survivor annuity requirements of Sections 401(a)(11) and section 417 of the Code. If this Subsection (e) is operative, then the provisions of this Section 12.08, other than Subsection (f), shall be inoperative.

Safe Harbor Rules. (i) 10.6.1 This Subsection Section shall apply to a Participant in a profit-sharing plan, and to any distribution, made on or after the first day of the first Plan 'tear Year beginning after December 31, 1988, from or under a separate account attributable solely to accumulated deductible employee Employee contributions, as defined in section Section 72(o)(5)(B) of the Code, and maintained on behalf of a participant Participant in a money purchase pension plan, (including a target benefit plan) if the following conditions are satisfied: (1a) the Participant does not or cannot elect payments in the form of a life annuity; and (2b) on the death of a Participant, the Participant's vested Account account balance will be paid to the Participant's surviving spouse, but if there is no surviving spouse, or if the surviving spouse has consented in a manner conforming to a qualified election, then to the Participant's designated beneficiary. The surviving spouse may elect to have distribution of the vested Account account balance commence within the 90 90-day period following the date of the Participant's death. The Account account balance shall be adjusted for gains or losses occurring after the Participant's death in accordance with the provisions of the Plan governing the adjustment of Account account balances for other types of distributions. This Subsection (e) Section 10.6 shall not be operative with respect to a Participant in a profit-profit sharing plan if the plan is a direct or indirect transferee of a defined benefit plan, money purchase plan, a target benefit plan, stock bonus, or profit-profit sharing plan which is subject to the survivor annuity requirements of Sections Section 401(a)(11) and section Section 417 of the Code. If this Subsection (e) Section 10.6 is operative, then the provisions of this Section 12.08Article, other than Subsection (f)Section 10.7, shall be inoperative.

Safe Harbor Rules. (ia) This Subsection section shall apply to a Participant in a profit-sharing plan, plan and to any distribution, made on or after the first day of the first Plan 'tear Year beginning after December 31, 1988, from or under a separate account attributable solely to accumulated deductible employee contributionsEmployee Contributions, as defined in section Section 72(o)(5)(B) 41 of the Code, and maintained on behalf of a participant Participant in a money purchase pension plan, (including a target benefit plan) if the following conditions are satisfied: (1i) the Participant does not or cannot elect payments in the form of a life annuity; and (2ii) on the death of a Participant, the Participant's vested Vested Account balance Balance will be paid to the Participant's surviving spouseSpouse, but if there is no surviving spouseSpouse, or if the surviving spouse Spouse has consented in a manner conforming to a qualified electionQualified Election, then to the Participant's designated beneficiary. The surviving spouse Spouse may elect to have distribution of the vested Vested Account balance Balance commence within the 90 90-day period following the date of the Participant's death. The Account account balance shall be adjusted for gains or losses occurring after the Participant's death in accordance with the provisions of the Plan governing the adjustment of Account account balances for other types of distributions. This Subsection (e) section shall not be operative with respect to a Participant in a profit-sharing plan if the plan Plan is a direct or indirect transferee of a defined benefit plan, money purchase plan, a target benefit plan, stock bonus, or profit-sharing plan which is subject to the survivor annuity requirements of Sections Section 401(a)(11) and section Section 417 of the Code. If this Subsection (e) section is operative, then the provisions of this Section 12.08article, other than Subsection (f)section 12.06, shall be inoperative.

Safe Harbor Rules. (ia) This Subsection Section shall apply to a Participant in a profit-profit sharing plan, and to any distribution, made on or after the first day of the first Plan 'tear Year beginning after December 31, 1988, from or under a separate account attributable solely to accumulated deductible employee contributions, as defined in section Section 72(o)(5)(B) of the Code, and maintained on behalf of a participant Participant in a money purchase pension plan, (including a target benefit plan) if the following conditions are satisfied: (1i) the Participant does not or cannot elect payments in the form of a life annuity; and (2ii) on the death of a Participant, the Participant's vested Vested Account balance Balance will be paid to the Participant's surviving spouseSpouse, but if there is no surviving spouseSpouse, or if the surviving spouse Spouse has consented in a manner conforming to a qualified electionQualified Election, then to the Participant's designated beneficiaryBeneficiary. The surviving spouse Spouse may elect to have distribution of the vested Vested Account balance Balance commence within the 90 day ninety (90)-day period following the date of the Participant's death. The Account balance shall be adjusted for gains or losses occurring after the Participant's death in accordance with the provisions of the Plan plan governing the adjustment of Account balances for other types of distributions. This Subsection (e) subsection shall not be operative with respect to a Participant participant in a profit-profit sharing plan if the plan is a direct or indirect transferee of a defined benefit plan, money purchase plan, a target benefit plan, stock bonus, or profit-profit sharing plan which is subject to the survivor annuity requirements of Sections Section 401(a)(11) and section Section 417 of the Code. If this Subsection (e) subsection is operative, then the provisions of this Section 12.08Article, other than Subsection (f)the following Section, shall be inoperative.

Safe Harbor Rules. (ia) This Subsection Section shall apply to a Participant in a profitProfit-sharing planSharing Plan, and to any distribution, made on or after the first day of the first Plan 'tear Year beginning after December 31, 1988, from or under a separate account attributable solely to accumulated deductible employee contributions, as defined in section 72(o)(5)(B) of the Code, and maintained on behalf of a participant Participant in a money purchase pension plan, plan (including a target benefit plan) ), if the following conditions are satisfied: (1) the Participant does not or cannot elect payments in the form of a life annuity; and (2) on the death of a Participant, the Participant's vested Account account balance will be paid to the Participant's surviving spouse, but if there is no surviving spouse, or if the surviving spouse has consented in a manner conforming to a qualified election, then to the Participant's designated beneficiaryDesignated Beneficiary. The surviving spouse may elect to have distribution of the vested Account account balance commence within the 90 90-day period following the date of the Participant's death. The Account account balance shall be adjusted for gains or losses occurring after the Participant's death in accordance with the provisions of the Plan governing the adjustment of Account account balances for other types of distributions. If the plan provides for a separate accounting of the participant’s benefits, these requirements need only apply to the separate account This Subsection (e) Section 9.06 shall not be operative with respect to a Participant in a profitProfit-sharing plan Sharing Plan if the plan Plan is a direct or indirect transferee of a defined benefit plan, money purchase plan, a target benefit plan, stock bonus, or profit-sharing plan which is subject to the survivor annuity requirements of Sections sections 401(a)(11) and section 417 of the Code. If this Subsection (e) Section 9.06 is operative, then the provisions of this Section 12.08Article, other than Subsection (f)Section 9.06, shall be inoperative.