Common use of Withdrawal from the Plan Clause in Contracts

Withdrawal from the Plan. 11.11.9.1 A participant who ceases to be employed by the College must withdraw from the Plan. Also, under extenuating circumstances, a participant may withdraw from the plan upon giving at least one (1) month's notice of intent to do so. In both cases, the College shall immediately seek redemption from the investor of all monies held on behalf of the participant, and upon receipt, shall remit the full amount to the participant. 11.11.9.2 In the event of the death of a participant and upon notice by the executor, the Employer shall pay to the participant's estate the full deferred compensation amount plus accrued interest, subject to the College receiving any necessary clearances and proofs normally required in such situations. 11.11.9.3 Participants may, on one occasion, suspend their participation in the plan for a period of not less than six (6) months, or not more than twelve (12) months. When the period of suspension ceases, the participant shall be reinstated in the plan on the first day of the following month.

Withdrawal from the Plan. 11.11.9.1 (a) A participant who ceases to be employed by the College must withdraw from the Plan. Also, under extenuating circumstances, a participant may withdraw from the plan upon giving at least one (1) month's notice of intent to do so. In both cases, the College shall immediately seek redemption from the investor of all monies held on behalf of the participant, and upon receipt, shall remit the full amount to the participant. 11.11.9.2 (b) In the event of the death of a participant and upon notice by the executor, the Employer shall pay to the participant's estate the full deferred compensation amount plus accrued interest, subject to the College receiving any necessary clearances and proofs normally required in such situations. 11.11.9.3 (c) Participants may, on one occasion, suspend their participation in the plan for a period of not less than six (6) months, or not more than twelve (12) months. When the period of suspension ceases, the participant shall be reinstated in the plan on the first day of the following month.