Common use of Small Account Balances Clause in Contracts

Small Account Balances. Distribution requests less than $5,000 will be made in the form of a lump sum payment to the Participant. If distribution requests for amounts less than $5,000 are submitted requesting periodic payments, the Employer or Plan TPA has the right to send Instructions to the Custodian to process the distribution as a lump sum without the consent of the Participant or beneficiary.

Small Account Balances. Distribution requests less than $5,000 will be made in the form of a lump sum payment to the Participant. If distribution requests for amounts less than thant $5,000 are submitted requesting periodic payments, the Employer or Plan TPA has the right to send Instructions to the Custodian to process the distribution as a lump sum without the consent of the Participant or beneficiaryBeneficiary.