Annuity Contract. Any annuity contract distributed under the Plan must be nontransferable. In addition, the terms of any annuity contract purchased and distributed to a Participant or to a Participant’s spouse must comply with all requirements under this Plan.
Appears in 2 contracts
Sources: Defined Contribution Plan and Trust (National Penn Bancshares Inc), Defined Contribution Prototype Plan and Trust Agreement (Mercantile Bancorp, Inc.)
Annuity Contract. Any annuity contract distributed under the Plan must be nontransferable. In addition, the terms of any annuity contract purchased and distributed to a Participant or to a Participant’s 's spouse must comply with all requirements under this Plan.
Appears in 1 contract
Sources: Profit Sharing/401(k) Prototype Plan and Trust (Capital Corp of the West)
Annuity Contract. Any annuity contract distributed under the Plan must be nontransferable. In addition, the terms of any annuity contract purchased and distributed to a Participant Participant, or to a Participant’s spouse Spouse, must comply with all requirements under this Planthe Code and regulations thereunder.
Appears in 1 contract
Sources: Governmental Nonstandardized Defined Contribution Plan