Common use of Withdrawal Rights Clause in Contracts

Withdrawal Rights. A participant may, with the approval of the College, withdraw from the Plan in unusual or extenuating circumstances (e.g., financial hardship or serious illness). Requests for withdrawal must be submitted in writing, detailing the reason(s) for withdrawal before three (3) months prior to commencement of the leave. The College shall maintain the request and its approval as a part of College records. When a request for withdrawal is approved, the College shall pay to the employee a lump sum amount equal to moneys deferred plus interest accrued to the date of withdrawal from the Plan. Payment shall be made as soon as possible, but must be made within thirty (30) days of approval of withdrawal from the Plan.

Withdrawal Rights. ‌‌‌ A participant may, with the approval of the College, withdraw from the Plan in unusual or extenuating circumstances (e.g., financial hardship or serious illness). Requests for withdrawal must be submitted in writing, detailing the reason(s) for withdrawal before three (3) months prior to commencement of the leave. The College shall maintain the request and its approval as a part of College records. When a request for withdrawal is approved, the College shall pay to the employee a lump sum amount equal to moneys deferred plus interest accrued to the date of withdrawal from the Plan. Payment shall be made as soon as possible, but must be made within thirty (30) days of approval of withdrawal from the Plan.

Withdrawal Rights. A participant may, with the approval of the College, withdraw from the Plan in unusual or extenuating circumstances (e.g., financial hardship or serious illness). Requests for withdrawal must be submitted in writing, detailing the reason(s) for withdrawal before three (3) months prior to commencement of the leave. The College shall maintain the request and its approval as a part of College records. When a request for withdrawal is approved, the College shall pay to the employee a lump sum amount equal to moneys deferred plus interest accrued to the date of withdrawal from the Plan. Payment shall be made as soon as possible, but must be made within thirty (30) days of approval of withdrawal from the Plan.Plan.‌‌‌‌