Distributable Events. (a) The vested amount of a Participant's account shall become payable to a Participant or his Beneficiary pursuant to this Article X as follows: (1) Upon actual retirement on or after the Participant's Normal Retirement Age. (2) Upon the death of the Participant. (3) Upon the Disability of the Participant. (4) Upon the termination of the Participant's employment prior to retirement, death or Disability. (5) If the Plan is a profit-sharing plan and if so elected by the Employer in the Adoption Agreement or specified in Section 11.01, the vested amount in a Participant's account may also be distributed under the in-service distribution rules of Section 10.04. (b) Distributions on account of any of the distributable events described above are subject to the restrictions in Section 10.03 below.
Appears in 3 contracts
Sources: Individual 401(k) Plan Purchase Agreement, Employer Sponsored Plan Account Agreement, Employer Sponsored Plan Account Agreement