Eligible Rollover Distributions. An eligible rollover distribution is any distribution of all or any portion to the accrued benefit of the Participant, except an eligible rollover distribution does not include: any distribution which is one of a series of substantially equal periodic payments (not less frequently than annually) made for life (or life expectancy) of the Participant or the joint lives (or joint life expectancies) of the Participant and the Participant’s designated beneficiary, or for a specified period of ten years or more; any distribution to the extent required under Code § 401(a)(9); and the portion of any distribution which is not included in gross income. An eligible rollover distribution shall not include a hardship distribution.
Appears in 3 contracts
Sources: Church of the Nazarene Single Defined Benefit Plan, Single Defined Benefit Plan, Single Defined Benefit Plan