DEFINITION OF IMMEDIATELY DISTRIBUTABLE. A Participant's benefit is immediately distributable if any part of the benefit could be distributed to the Participant (or the Participant's surviving spouse) before the Participant reaches (or would have reached if not deceased) the later of his or her Normal Retirement Age or Age 62.
Appears in 2 contracts
Sources: Employee Stock Ownership Plan & Trust (Picis Inc), Employee Stock Ownership Plan & Trust (Picis Inc)