Common use of Distribution restriction Clause in Contracts

Distribution restriction. An Employee must not take a distribution of the Salary Deferrals eligible for the Matching Contribution prior to the end of the period for which the Matching Contribution is being made (as defined in AA §6B-5 above). See Section 3.09(c) of the Plan.

Appears in 3 contracts

Sources: 401(k) Plan Adoption Agreement, Nonstandardized Prototype Profit Sharing/401(k) Plan Adoption Agreement, 401(k) Plan Adoption Agreement