Time of Consent. A Participant’s consent to a distribution must not be made before he receives the written explanation under (2) above and must not be made more than 180 days before benefit payments commence. This Section 8.5(b) shall be deemed to have been satisfied with respect to any setoff of a Participant loan against the Participant’s Account if the Participant agreed to use his Account as security for the loan.
Appears in 4 contracts
Samples: 401(k) Retirement Savings Plan (Lsi Industries Inc), Retirement Plan (Lsi Industries Inc), Retirement Plan (Lsi Industries Inc)
Time of Consent. A Participant’s consent to a distribution must not be made before he receives the written explanation under (2) above and must not be made more than 180 90 days before benefit payments commence. This Section 8.5(b) shall be deemed to have been satisfied with respect to any setoff of a Participant loan against the Participant’s Account if the Participant agreed to use his Account as security for the loan.
Appears in 1 contract
Samples: Retirement Plan (Lsi Industries Inc)
Time of Consent. A Participant’s 's consent to a distribution must not be made before he receives the written explanation under (2) above and must not be made more than 180 90 days before benefit payments commencecommence (or, in the discretion of the Administrator, the annuity starting date). This Section 8.5(b7.6(c) shall be deemed to have been satisfied with respect to any setoff of a Participant loan against the Participant’s 's Account if the Participant agreed to use his Account as security for the loan.
Appears in 1 contract
