Distribution Options. The following distribution options may be elected by the Owner on the Participant's behalf.
Distribution Options. Distribution Options: ECO, XXX and SWO are distribution options under which a portion of the Individual Account Current Value will automatically be surrendered and distributed each calendar year. The distributed amount is withdrawn pro rata from each investment option under the Individual Account. The Contract Holder must certify in writing that distributions are being made in accordance with the Plan.
Distribution Options means the election by the Member of the event triggering the commencement of distribution and the method of distribution. Distribution Option elections shall be made on the Eligible Executive’s initial Deferral Agreement.
Examples of Distribution Options in a sentence
Aetna may, from time to time, make one or more Systematic Distribution Options available during the Accumulation Period.
Except to the extent required to comply with applicable law, discontinuance of a Systematic Distribution Option will apply only to future elections and will not affect Systematic Distribution Options in effect at the time an option is discontinued.
GALIC may, from time to time, make one or more Systematic Distribution Options available during the Accumulation Period.
Systematic Distribution Options If available under your plan, a systematic distribution option allows you to receive regular payments from your account without moving into the Income Phase.
Annually, the Participant shall allocate his or her deferrals between the Distribution Options in increments of ten percent (10%); provided that, deferrals of Board Remuneration shall automatically be allocated to the Deferred Board Remuneration Account.
More Definitions of Distribution Options
Distribution Options. (Cont'd): Election and Revocation: The Participant or Beneficiary may elect a distribution option by submitting a completed and signed election form to Aetna's Home Office. However, the Contract Holder must certify in writing that the distribution option is in accordance with the terms of the Plan. If the Individual Account is subject to ERISA, the Contract Holder must certify in writing that the waiver and spousal consent requirements of Code Section 417 have been satisfied. Once elected, the Participant or Beneficiary may revoke the option by submitting a written request to Aetna's Home Office. Any revocation will apply only to amounts not yet paid. Availability of ECO, XXX and SWO: The Participant may elect any one of the following three distribution options, if they are available as an option under the Contract (see Contract Schedule I) and if the Contract Holder certifies that the election is in accordance with the terms of the Plan. The Beneficiary may elect either ECO or SWO, if they are available as an option under the Contract (see Contract Schedule I) and if the Contract Holder certifies that the election is in accordance with the terms of the Plan. An individual who has revoked ECO, XXX or SWO may not subsequently elect that option again, nor may the individual elect another withdrawal option unless permitted under the Code minimum distribution rules. XXX and SWO are not available if there is an outstanding loan under the Individual Account, or if a Fixed Plus Account transfer or surrender has occurred within the prior 12 month period. Payments will cease if a loan is granted while XXX or SWO is in effect. If XXX is in effect and the Participant dies, or if ECO or SWO is in effect and the Participant dies before the required beginning date for minimum distributions, payments will cease. A Beneficiary may elect ECO or SWO provided the election satisfies the Code minimum distribution rules. If ECO or SWO is in effect and the Participant dies after the required beginning date for minimum distributions, payments will continue as permitted under the Code minimum distribution rules, unless revoked.
Distribution Options means, with respect to an Account under the Plan, the election by the Participant of the form of payment Distribution Option elections made on the initial Deferral Agreement.
Distribution Options. The Contract Holder may elect one of the two following distribution options on behalf of: 1) the Participant; or 2) the Participant's spouse provided the spouse is the designated beneficiary under the Plan and the Participant had died before electing an Annuity option and before the date for required minimum distributions.
Distribution Options. The following distribution options may be elected by the Contract Holder during the Accumulation Period.
(a) Estate Conservation Option (ECO) - A distribution option under which a portion of the Current Value will automatically be surrendered and distributed each year. ECO payments will be calculated based on the Contract's full Current Value. The distributed amount will be withdrawn pro rata from each investment option used under the Contract. A Surrender Fee will not be deducted from any portion of the Adjusted Current Value which is paid as a distribution under ECO. Contract Holders should consult their tax advisers prior to requesting this distribution option. Aetna will not be responsible for any adverse tax consequences due to receiving ECO payments.
Distribution Options means the election by the Member of the event triggering the commencement of distribution and the method of distribution. A Distribution Option election shall be made on the Eligible Executive’s initial Deferral Agreement. With respect to Deferral Agreements entered into on or after November 1, 2012, the Member may elect separate Distribution Options in accordance with Section 5.7.
Distribution Options means, with respect to a Participant's Account (or subaccounts) under the Plan, the election by the Participant of (a) the event triggering the commencement of distribution, and (b) the form of payment. Distribution Option elections are made on election forms provided by the Company.
Distribution Options means, with respect to each sub-account under the Plan, the election by the Member of (i) the event triggering the commencement of distribution, and (ii) the form of payment. Distribution Option elections are made on the initial Deferral Agreement with respect to any sub-account.