SPECIAL DISTRIBUTION RULES FOR DEFERRAL CONTRIBUTIONS ACCOUNT Sample Clauses

SPECIAL DISTRIBUTION RULES FOR DEFERRAL CONTRIBUTIONS ACCOUNT. The distribution provisions in Section 6.03(B) shall not apply to the Deferral Contributions Accounts of, or any Deferred Income Contributions under the Prior Plan (as defined in Section 17.01) made with respect to, Participants in the Policyholder Service Corporation Retirement Plan which was merged with this Plan on December 31, 1991. Instead, the distribution provisions in this Section 6.03(E) shall apply to withdrawals from the Deferral Contributions Account or from Deferred Income Contributions by a Participant who has not separated from Service with the Employer. The Participant, until he retires, may elect to receive a distribution from his Deferral Contributions Account or from Deferred Income Contributions if: (I) he has attained age 59-1/2; or (ii) he incurs an immediate and heavy financial hardship. The distribution event under clause (I) applies to all or any portion of the Participant's Deferral Contributions Account or Deferred Income Contributions. The distribution event under clause (II) applies to all or any portion of the Participant's Deferral Contributions Account or Deferred Income Contributions, except: (i) any portion derived from earnings on the Participant's elective deferrals credited after December 31, 1988; and (ii) to the extent used in the ADP test or in the ACP test, any portion derived from qualified Employer matching contributions and from qualified Employer nonelective contributions. A Participant must make a written election under this Section 6.03(E) on a form prescribed by the Advisory Committee between October 1 and November 1 for a distribution to be made on a distribution date of the following March 31 or between June 1 and July 1 for a distribution to be made on a distribution date of the following September 30. The distribution in accordance with the Participant's timely-filed written election will be made as soon as administratively practicable after the March 31 or September 30 distribution date specified in the election.
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Related to SPECIAL DISTRIBUTION RULES FOR DEFERRAL CONTRIBUTIONS ACCOUNT

  • Qualified Matching Contributions If selected below, the Employer may make Qualified Matching Contributions for each Plan Year (select all those applicable):

  • DEFERRAL CONTRIBUTIONS The Advisory Committee will allocate to each Participant's Deferral Contributions Account the amount of Deferral Contributions the Employer makes to the Trust on behalf of the Participant. The Advisory Committee will make this allocation as of the last day of each Plan Year unless, in Adoption Agreement Section 3.04, the Employer elects more frequent allocation dates for salary reduction contributions.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Deferral Account 3.1 Establishing and Crediting. The Company shall establish a Deferral Account on its books for the Director, and shall credit to the Deferral Account the following amounts:

  • Deferred Compensation Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.

  • Employer Contributions If Employer contributions are permitted, complete (a) and/or (b). Otherwise complete (c).

  • Cash Account Except as otherwise provided in Instructions acceptable to Bank, all cash held in the Cash Account shall be deposited during the period it is credited to the Account in one or more deposit accounts at Bank or at Bank's London Branch. Any cash so deposited with Bank's London Branch shall be payable exclusively by Bank's London Branch in the applicable currency, subject to compliance with any Applicable Law, including, without limitation, any restrictions on transactions in the applicable currency imposed by the country of the applicable currency.

  • Retirement Accounts With respect to certain retirement plans or accounts (such as individual retirement accounts (“IRAs”), SIMPLE IRAs, SEP IRAs, Xxxx IRAs, Education IRAs, and 403(b) Plans (such accounts, “Retirement Accounts”), the Transfer Agent, at the request and expense of the Fund, provide or arrange for the provision of various services to such plans and/or accounts, which services may include custodial agent services such as account set-up maintenance, and disbursements as well as such other services as the parties hereto shall mutually agree upon.

  • Distributions on Account of Separation from Service If and to the extent required to comply with Section 409A, no payment or benefit required to be paid under this Agreement on account of termination of the Executive’s employment shall be made unless and until the Executive incurs a “separation from service” within the meaning of Section 409A.

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