Permissible Change Election definition

Permissible Change Election means an election to change the time or form of payment of any benefit under the Plan that:
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Permissible Change Election means an election to change the time or form of payment of any benefit under the Plan that: (a) does not take effect until at least 12 months after the date on which such election to delay or change is made; (b) is made at least 12 months prior to the date previously scheduled for the payment affected thereby; (c) postpones the payment affected thereby for a period of not less than 5 years from the date when such payment otherwise would have been made; provided, however, that this restriction shall not apply in the case of a payment on account of a Disability, death or an Unforeseeable Emergency; and (d) does not accelerate the scheduled time for payment of any distribution, except as permitted under Section 409A Requirements. For purposes of the foregoing, unless otherwise provided in the Adoption Agreement or otherwise required under applicable Section 409A Requirements, any distribution that a Participant elects to receive in a series of installments shall be treated as being a single payment on the date of the first installment of such series.
Sample 1
Permissible Change Election means an election to change the time or form of payment of any benefit under the Plan that: a) does not take effect until at least 12 months after the date on which such election to delay or change is made; b) is made at least 12 months prior to the date previously scheduled for the payment affected thereby; c) postpones the payment affected thereby for a period of not less than 5 years from the date when such payment otherwise would have been made; provided, however, that this restriction shall not apply in the case of a payment on account of a Disability, death or an Unforeseeable Emergency; and d) does not accelerate the scheduled time for payment of any distribution, except as permitted under Section 409A Requirements. DocuSign Envelope ID: 1C0997E6-B4A1-4EC8-9F96-F5D627FBD750
Sample 1

Examples of Permissible Change Election in a sentence

  • No election may be made to change the time or form of payment of any distribution under this Plan, or any installment thereof, except for a Permissible Change Election.

  • A Participant may elect to delay the scheduled time for payment of an In-Service Distribution under this paragraph, but only if such election constitutes a Permissible Change Election.


More Definitions of Permissible Change Election

Permissible Change Election means an election to change the time or form of payment of any benefit under the Plan that: (a)does not take effect until at least 12 months after the date on which such election to delay or change is made; (b)is made at least 12 months prior to the date previously scheduled for the payment affected thereby; (c)postpones the payment affected thereby for a period of not less than 5 years from the date when such payment otherwise would have been made; provided, however, that this restriction shall not apply in the case of a payment on account of a death or an Unforeseeable Emergency; and (d)does not accelerate the scheduled time for payment of any distribution, except as permitted under Section 409A Requirements. For purposes of the foregoing, unless otherwise required under applicable Section 409A Requirements, any distribution that a Participant elects to receive in a series of installments shall be treated as being a single payment on the date of the first installment of such series.
Sample 1

Related to Permissible Change Election

  • LCA Election has the meaning specified in Section 1.09(a).

  • Section 336(e) Election has the meaning set forth in Section 7.06.

  • Exchange Election shall have the meaning specified in Section 14.12(a).

  • Election cycle means the period beginning on the first day persons are eligible to

  • Early Opt-in Election means the occurrence of:

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • Payment Election means an election pursuant to Section 5.1.

  • Make-Whole Fundamental Change Effective Date means (A) with respect to a Make-Whole Fundamental Change pursuant to clause (A) of the definition thereof, the date on which such Make-Whole Fundamental Change occurs or becomes effective; and (B) with respect to a Make-Whole Fundamental Change pursuant to clause (B) of the definition thereof, the applicable Redemption Notice Date.

  • Election Date has the meaning specified in Section 312(h).

  • Change of Control Event means the occurrence of an event or series of events whereby one or more Persons, acting together, acquire control over the Issuer and where “control” means (a) acquiring or controlling, directly or indirectly, more than fifty (50.00) per cent. of the voting shares of the Issuer, or (b) the right to, directly or indirectly, appoint or remove the whole or a majority of the directors of the board of directors of the Issuer.

  • Regular primary election means the election on the fourth Tuesday of June of

  • Change in Control Event means any of the following:

  • Fundamental Change Effective Date means the date on which any Fundamental Change becomes effective.

Most Referenced Clauses

Most Referenced Definitions