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 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 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 thant 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 Beneficiarybeneficiary.

Small Account Balances. Distribution requests less than $5,000 will may be made in the form of a lump sum payment to the Participant. If distribution requests for amounts less thant than $5,000 are submitted requesting periodic payments, the Employer or Plan TPA Provider 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. In the event the Plan is subject to ERISA, the $5,000 shall be reduced to $1,000 each place it occurs in this Section.