Common use of TEFRA Transitional Rule Clause in Contracts

TEFRA Transitional Rule. Notwithstanding any other provisions of this Plan, distribution on behalf of any Participant may be made in accordance with the following requirements (regardless of when such distribution commences): (a) The distribution must have been one provided for in the Plan. (b) The distribution by the Plan is one which would not have disqualified the Plan under Section 401(a)(9) of the Code as in effect prior to amendment by the Tax Equity and Fiscal Responsibility Act of 1982 (“TEFRA”). (c) The distribution is in accordance with a method of distribution designated by the Participant whose interest is being distributed or, if the Participant is deceased, by a Beneficiary of such Participant. (d) Such designation was in writing, was signed by the Participant or the Beneficiary, and was made before January 1, 1984. (e) The Participant had accrued a benefit under the Plan as of December 31, 1983. (f) The method of distribution designated by the Participant or the Beneficiary specifies the time at which distribution will commence, the period over which distribution will be made, and in the case of any distribution upon the Participant’s death, the Beneficiaries of the Participant listed in order of priority.