Common use of Transitional Rule Clause in Contracts

Transitional Rule. SECTION 242 ELECTION. Notwithstanding the other requirements of this Article and subject to the Joint and Survivor Annuity rules set forth in Article VI, distribution on behalf of any Employee, including a 5% owner, may be made in accordance with all of the following requirements (regardless of when such distribution commences): (A) the distribution by the trust is one which would not have disqualified such trust under Code Section 401(a)(9) as in effect prior to amendment by the Deficit Reduction Act of 1984; (B) the distribution is in accordance with a method of distribution designated by the Employee whose interest in the trust is being distributed or, if the Employee is deceased, by a Beneficiary of such Employee; (C) such designation was in writing, was signed by the Employee or the Beneficiary, and was made before January 1, 1984; (D) the Employee had accrued a benefit under the Plan as of December 31, 1983; and (E) the method of distribution designated by the Employee or the Beneficiary specifies the time at which distribution will commence, the period over which distributions will be made, and in the case of any distribution upon the Employee's death, the Beneficiaries of the Employee listed in order of priority. A distribution upon death will not be covered by this transitional rule unless the information in the designation contains the required information described above with respect to the distributions to be made upon the death of the Employee. For any distribution which commences before January 1, 1984, but continues after December 31, 1983, the Employee, or the Beneficiary, to whom such distribution is being made, will be presumed to have designated the method of distribution under which the distribution is being made if the method of distribution was specified in writing and the distribution satisfies the requirements in subsections 5.11.5(A) and (E).

Transitional Rule. SECTION 242 ELECTION. Notwithstanding the other requirements of this Article and subject to the Joint and Survivor Annuity rules set forth in Article VI, distribution on behalf of any Employee, including a 5% owner, may be made in accordance with all of the following requirements (regardless of when such distribution commences): (A) the distribution by the trust is one which would not have disqualified such trust under Code Section 401(a)(9) as in effect prior to amendment by the Deficit Reduction Act of 1984; (B) the distribution is in accordance with a the method of distribution designated by the Employee whose interest in the trust is being distributed or, if the Employee is deceased, by a Beneficiary of such Employee; (C) such designation was in writing, was signed by the Employee or the Beneficiary, and was made before January 1, 1984; (D) the Employee had accrued a benefit under the Plan as of December 31, 1983; and (E) the method of distribution designated by the Employee or the Beneficiary specifies the time at which distribution will commence, the period over which distributions will be made, and in the case of any distribution upon the EmployeeEmployer's death, the Beneficiaries of the Employee listed in order of priority. A distribution upon death will not be covered by this transitional rule unless the information in the designation contains the required information described above with respect to the distributions to be made upon the death of the Employee. For any distribution which commences before January 1, 1984, but continues after December 31, 1983, the Employee, or the Beneficiary, to whom such distribution is being made, will be presumed to have designated the method of distribution under which the distribution is being made if the method of distribution was specified in writing and the distribution satisfies the requirements in subsections 5.11.5(A) and (E).

Transitional Rule. SECTION 242 ELECTION. i. Notwithstanding the other requirements of this Article section and subject to the requirement of Section 10.4, Joint and Survivor Annuity rules set forth in Article VIRequirements, distribution on behalf of any Employeeemployee, including a 5% -percent owner, may be made in accordance with all of the following requirements (regardless of when such distribution commences): (A1) the The distribution by the trust is one which would not have disqualified such trust under Code Section 401(a)(9) of the Internal Revenue Code as in effect prior to amendment by the Deficit Reduction Act of 1984;. (B2) the The distribution is in accordance with a method of distribution designated by the Employee employee whose interest in the trust is being distributed or, if the Employee is deceased, by a Beneficiary the beneficiary of such Employee;. (C3) such Such designation was in writing, was signed by the Employee or the Beneficiarybeneficiary, and was made before January 1, 1984;. (D4) the The Employee had accrued Accrued a benefit under the Plan as of December 31, 1983; and. (E5) the The method of distribution designated by the Employee employee or the Beneficiary beneficiary specifies the time at which distribution will commence, the period over which distributions will be made, and in the case of any distribution upon the Employeeemployee's death, the Beneficiaries beneficiaries of the Employee employee listed in order of priority. ii. A distribution upon death will not be covered by this transitional rule unless the information in the designation contains the required information described above with respect to the distributions to be made upon the death of the Employee iii. For any distribution which commences before January 1, 1984, but continues after December 31, 1983, the Employee, or the Beneficiarybeneficiary, to whom such distribution is being made, will be presumed to have designated the method of distribution under which the distribution is being made if the method of distribution was specified in writing and the distribution satisfies the requirements in subsections 5.11.5(A) and (E).___________________________________________________

Transitional Rule. SECTION 242 ELECTION. (i) Notwithstanding the other requirements of this Article Section 12.07 and subject to the requirements of Section 12.08, Joint and Survivor Annuity rules set forth in Article VIRequirements, distribution on behalf of any Employee, including a 5% -percent owner, may be made in accordance with all of the following requirements (regardless of when such distribution commences): (A) the The distribution by the trust Trust is one which would not have disqualified such trust Trust under Code Section 401(a)(9) of the Internal Revenue Code as in effect prior to amendment by the Deficit Reduction Act of 1984;. (B) the The distribution is in accordance with a method of distribution designated by the Employee whose interest in the trust Trust is being distributed or, if the Employee is deceased, by a Beneficiary of such Employee;. (C) such Such designation was in writing, was signed by the Employee or the Beneficiary, and was made before January 1, 1984;. (D) the The Employee had accrued a benefit under the Plan as of December 31, 1983; and. (E) the The method of distribution designated by the Employee or the Beneficiary specifies the time at which distribution will commence, the period over which distributions will be made, and in the case of any distribution upon the Employee's death, the Beneficiaries of the Employee listed in order of priority. The method of distribution selected must assure that at least 50 percent of the present value of the amount available for distribution is paid within the life expectancy of the Participant. (ii) A distribution upon death will not be covered by this transitional rule unless the information in the designation contains the required information described above with respect to the distributions to be made upon the death of the Employee. . (iii) For any distribution which commences before January 1, 1984, but continues after December 31, 1983, the Employee, or the Beneficiary, Beneficiary to whom such distribution is being made, will be presumed to have designated the method of distribution under which the distribution is being made if the method of distribution was specified in writing and the distribution satisfies the requirements in subsections 5.11.5(ASubparagraphs (i)(A) and (E) above. (iv) If a designation is revoked, any subsequent distribution must satisfy the requirements of Section 401(a)(9) of the Code and the proposed regulations thereunder. If a designation is revoked subsequent to the date distributions are required to begin, the Trust must distribute by the end of the calendar year following the calendar year in which the revocation occurs the total amount not yet distributed which would have been required to have been distributed to satisfy Section 401(a)(9) of the Code and the proposed regulations thereunder, but for the Section 242(b).

Transitional Rule. SECTION 242 ELECTION. Notwithstanding the other requirements of this Article and subject to the Joint joint and Survivor Annuity rules set forth in Article VI, distribution on behalf of any Employee, including a 5% owner, may be made in accordance with all of the following requirements (regardless of when such distribution commences): (A) the distribution by the trust is one which would not have disqualified such trust under Code Section 401(a)(9) as in effect prior to amendment by the Deficit Reduction Act of 1984; (B) the distribution is in accordance with a method of distribution designated by the Employee whose interest in the trust is being distributed or, if the Employee is deceased, by a Beneficiary of such Employee; (C) such designation was in writing, was signed by the Employee or the Beneficiary, and was made before January 1, 1984; (D) the Employee had accrued a benefit under the Plan as of December 31, 1983; and (E) the method of distribution designated by the Employee or the Beneficiary specifies the time at which distribution will commence, the period over which distributions will be made, and in the case of any distribution upon the Employee's death, the Beneficiaries of the Employee listed in order of priority. A distribution upon death will not be covered by this transitional rule unless the information in the designation contains the required information described above with respect to the distributions to be made upon the death of the Employee. For any distribution which commences before January 1, 1984, but continues after December 31, 1983, the Employee, or the Beneficiary, to whom such distribution is being made, will be presumed to have designated the method of distribution under which the distribution is being made if the method of distribution was specified in writing and the distribution satisfies the requirements in subsections 5.11.5(A) and (E).

Transitional Rule. SECTION 242 ELECTION1. Notwithstanding the other requirements of this Article Section 5.05 of the Plan and subject to the requirements of Section 5.13 of the Plan, Joint and Survivor Annuity rules set forth in Article VIRequirements, distribution on behalf of any Employee, including a 5% five-percent owner, may be made in accordance with all of the following requirements (regardless of when such distribution commences):). (A) the a. The distribution by the trust Fund is one which would not have disqualified qualified such trust Fund under Code Section 401(a)(9) of the Code as in effect prior to amendment by the Deficit Reduction Act of 1984;. (B) the b. The distribution is in accordance with a method of distribution designated by the Employee whose interest in the trust Fund is being distributed or, if the Employee is deceased, by a Beneficiary of such Employee;. (C) such c. Such designation was in writing, was signed by the Employee or the Beneficiary, and was made before January 1, 1984;. (D) the d. The Employee had accrued a benefit under the Plan as of December 31, 1983; and. (E) the e. The method of distribution designated by the Employee or the Beneficiary specifies the time at which distribution will commence, the period over which distributions will be made, and in the case of any distribution upon the Employee's death, the Beneficiaries of the Employee listed in order of priority. 2. A distribution upon death will not be covered by this transitional rule unless the information in the designation contains the required information described above with respect to the distributions to be made upon the death of the Employee. 3. For any distribution which commences before January 1, 1984, but continues after December 31, 1983, the Employee, or the Beneficiary, to whom such distribution is being made, will be presumed to have designated the method of distribution under which the distribution is being made if the method of distribution was specified in writing and the distribution satisfies the requirements in subsections 5.11.5(ASections 5.05(F)(1)(a) and (Ee) of the Plan. 4. If a designation is revoked, any subsequent distribution must satisfy the requirements of Section 401(a)(9) of the Code and the regulations thereunder. If a designation is revoked subsequent to the date distributions are required to begin, the Plan must distribute, by the end of the calendar year following the calendar year in which the revocation occurs the total amount not yet distributed which would have been required to have been distributed to satisfy Section 401(a)(9) of the Code and the regulations thereunder, but for an election made under Section 242(b)(2) of the Tax Equity and Fiscal Responsibility Act of 1982. For calendar years beginning after December 31, 1988, such distributions must meet the minimum distribution incidental benefit requirements in Section 1.401(a)(9)-2 of the Proposed Income Tax Regulations. Any changes in the designation will be considered to be a revocation of the designation. However, the mere substitution or addition of another Beneficiary (one not named in the designation) under the designation will not be considered to be a revocation of the designation, so long as such substitution or addition does not alter the period over which distributions are to be made under the designation, directly or indirectly (for example, by altering the relevant measuring life). In the case in which an amount is transferred or rolled over from one plan to another plan, the rules in Section 1.401(a)(9), Q&A J-2 and Q&A J-3 of the Proposed Income Tax Regulations shall apply.

Transitional Rule. SECTION 242 ELECTION1. Notwithstanding the other requirements of this Article Section 6.06 and subject to the requirements of Section 6.05, Joint and Survivor Annuity rules set forth in Article VIRequirements, distribution on behalf of any Employee, including a 5% owner, may be made in accordance with all of the following requirements (regardless of when such distribution commences): (A) the a. The distribution by the trust Fund is one which would not have disqualified such trust Fund under Code Section 401(a)(9) of the Code as in effect prior to amendment by the Deficit Reduction Act of 1984;. (B) the b. The distribution is in accordance with a method of distribution designated by the Employee whose interest in the trust Fund is being distributed or, if the Employee is deceased, by a Beneficiary of such Employee;. (C) such c. Such designation was in writing, was signed by the Employee or the Beneficiary, and was made before January 1, 1984;. (D) the d. The Employee had accrued a benefit under the Plan as of December 31, 1983; and. (E) the e. The method of distribution designated by the Employee or the Beneficiary specifies the time at which distribution will commence, the period over which distributions will be made, and in the case of any distribution upon the Employee's death, the Beneficiaries of the Employee listed in order of priority. 2. A distribution upon death will not be covered by this transitional rule unless the information in the designation contains the required information described above with respect to the distributions to be made upon the death of the Employee. 3. For any distribution which commences before January 1, 1984, but continues after December 31, 1983, the Employee, or the Beneficiary, to whom such distribution is being made, will be presumed to have designated the method of distribution under which the distribution is being made if the method of distribution was specified in writing and the distribution satisfies the requirements in subsections 5.11.5(ASections 6.06(G)(1)(a) and (Ee). 4. If a designation is revoked, any subsequent distribution must satisfy the requirements of Section 401(a)(9) of the Code and the regulations thereunder. If a designation is revoked subsequent to the date distributions are required to begin, the Plan must distribute by the end of the calendar year following the calendar year in which the revocation occurs the total amount not yet distributed which would have been required to have been distributed to satisfy Section 401(a)(9) of the Code and the regulations thereunder, but for the Section 242(b)