Time of Distribution. Notwithstanding any other provision of the Plan, any benefit payable under the Plan shall be distributed in compliance with the following provisions: (a) DISTRIBUTION DEADLINES FOR PARTICIPANTS OR FORMER PARTICIPANTS WHO ARE 70 1/2 OR OLDER. If a Participant or former Participant attains 70 1/2, the Participant or former Participant must elect to receive the distribution required under section 401(a)(9) of the Code in one lump sum which must be paid by his Required Beginning Date.
Appears in 4 contracts
Samples: Employee Savings Plan (Quanex Corp), 401(k) Savings Plan Amendment and Restatement (Quanex Corp), Employee Savings Plan (Quanex Corp)
