In-Service Distribution Clause Samples

In-Service Distribution. The Employer must elect in its Adoption Agreement the distribution election rights, if any, a Participant has prior to his/her Separation from Service ("in-service distribution"). Subject to any contrary Employer election in Appendix A to its Adoption Agreement, a Participant upon attaining age 70 1/2, until he/she incurs a Separation from Service, has a continuing election to receive all or any portion of his/her Account Balance, including Employer contributions and Participant contributions. If the Employer elects in its Adoption Agreement additional in-service distribution of any Employer contribution (including deferral contributions), the Employer in its Adoption Agreement must specify events or conditions, if any, applicable to such in-service distributions. For special requirements regarding hardship distributions, see Section

In-Service Distribution. For Profit Sharing Plans and 401(k) Profit Sharing Plans, if elected in the Adoption Agreement, at such time as the conditions set forth in the Adoption Agreement have been satisfied, then the Administrator, at the election of a Participant who has not severed employment with the Employer, shall direct the distribution of up to the entire Vested amount then credited to the accounts as elected in the Adoption Agreement maintained on behalf of such Participant. In the event that the Administrator makes such a distribution, the Participant shall continue to be eligible to participate in the Plan on the same basis as any other Employee. Any distribution made pursuant to this Section shall be made in a manner consistent with Section 6.5, including, but not limited to, all notice and consent requirements of Code Sections 411(a)(11) and 417 and the Regulations thereunder. Furthermore, if an in-service distribution is permitted from more than one account type, the Administrator may determine any ordering of a Participant's in-service distribution from such accounts.

In-Service Distribution. For a Participant to convert his/her eligible contributions to ▇▇▇▇ Deferrals through an In-Plan ▇▇▇▇ Conversion, the Participant need not be eligible to take a distribution from the Plan. To override this default provision to require a distributable event, complete this subsection (2). 🞎 If this subsection (2) is checked, a Participant must be eligible for a distribution of any amounts converted to ▇▇▇▇ Deferrals through an In-Plan ▇▇▇▇ Conversion. Thus, only amounts that are eligible for distribution under AA §9 or AA §10 are eligible for In-Plan ▇▇▇▇ Conversion.

In-Service Distribution. The Employer in its Adoption Agreement must elect the Participants' In-Service Distribution rights, if any. If the Employer elects to permit any In-Service Distributions, the Employer will elect the eligible Contribution Type or Contribution Type Accounts and the age or other events which entitle a Participant to an In-Service Distribution. The Employer's elections under this Section 6.01(C) are subject to the restrictions of Section 6.01(C)(4) and any other restrictions under Applicable Law.

In-Service Distribution. A Director may irrevocably elect to receive a pre-termination distribution of all or any specified percentage of his or her Deferred Fees or Deferred Shares for any Plan Year on or commencing not earlier than the beginning of the third Plan Year following the Plan Year such Fees and Shares otherwise would have been payable. A Director's election of a pre-termination distribution shall he made in a Participation Agreement filed for the Plan Year as provided in Section 4.1 or Section 4.3. A Director shall elect irrevocably to receive such Deferred Fees and/or Deferred Shares as a pre-termination distribution under one of the forms provided in Section 7.4 or Section 7.5.

In-Service Distribution. (Section 4.1(c)) check one: A participant may receive an in-service distribution of all or a part of his or her benefit if the total amount of the Participant’s benefit is less than $5000 (or the dollar limit under Section 411(a)(11) of the Code, if greater) and the requirements of Section 4.1(c) of the Plan are satisfied. A Participant may not receive any in-service distributions of his or her benefit.

In-Service Distribution. (a) Prior to incurring a Separation from Service or a Disability, a Participant who has attained Normal Retirement Age may elect to receive a distribution from the Plan of all or any portion of his or her Nonforfeitable Accrued Benefit (an “In-Service Distribution”). (b) Subject to the provisions of Section 6.7(d), in order to receive an In-Service Distribution, a Participant shall make an election under this Section 6.7 on a written form prescribed by the Plan Administration Committee at any time during the Plan Year for which his or her election is to be effective and, in such written election form, the Participant shall specify the percentage or dollar amount of his or her Nonforfeitable Accrued Benefit that he or she wishes the Plan Administration Committee to direct the Trustee to distribute to him or her for the Plan Year for which the election is to be effective. (c) Subject to the provisions of Section 6.7(d), an In-Service Distribution shall only be payable and distributed in a single lump sum cash payment, and any such single lump sum cash payment shall be distributed to the Participant as soon as administratively practicable after the Plan Administration Committee approves the Participant’s written election. The Plan Administration Committee shall distribute the balance of the Participant’s Nonforfeitable Accrued Benefit not distributed pursuant to his or her election(s) under this Section 6.7 in accordance with the other applicable distribution provisions of the Plan. (d) Notwithstanding anything contained in this Section 6.7 to the contrary, the Plan Administration Committee may adopt investment education requirements and programs that a Participant must meet and/or participate in prior to exercising his or her right to elect to receive a distribution from the Plan under the provisions of this Section 6.7. Such investment education requirements and programs may be adopted or modified by the Plan Administration Committee from time to time and may contain such terms and conditions, as the Plan Administration Committee shall determine in their sole and absolute right and discretion.

In-Service Distribution. The Employer must elect in its Adoption Agreement the distribution election rights, if any, a Participant has prior to his/her Separation from Service ("in-service distribution"). Subject to any contrary Employer election in Appendix A to its Adoption Agreement, a Participant upon attaining age 701/2, until he/she incurs a Separation from Service, has a continuing election to receive all or any portion of his/her Account Balance, including Employer contributions and Participant contributions. If the Employer elects in its Adoption Agreement additional in-service distribution of any Employer contribution (including deferral contributions), the Employer in its Adoption Agreement must specify events or conditions, if any, applicable to such in-service distributions. For special requirements regarding hardship distributions, see Section 6.09. The Employer also must elect in its Adoption Agreement the additional in-service distribution rights, if any, a Participant has with respect to Participant contributions as defined in Section 4.01. If a Participant receives an in-service distribution as to a partially-Vested Account, and the Participant has not incurred a Forfeiture Break in Service, the Plan Administrator will apply the vesting provisions of Section 5.03(A). A Participant must make any permitted in-service distribution election under this Section 6.01(C) in writing and on a form prescribed by the Plan Administrator which specifies the percentage or dollar amount of the distribution and the Participant's Plan Account (Employer contributions or Participant contributions and type) to which the election applies. If the Plan permits in-service distributions, a Participant only may elect to receive one in-service distribution per Plan Year under this Section 6.01(C) unless the election form prescribed by the Plan Administrator provides for more frequent distributions. The Trustee, as directed by the Plan Administrator and subject to Sections 6.01(A)(4), 6.01(A)(5) and 6.04, will distribute the amount(s) a Participant elects in single sum, as soon as administratively practicable after the Participant files his/her in-service distribution election with the Plan Administrator. The Trustee will distribute the Participant's remaining Account Balance in accordance with the other provisions of this Article VI. The Trustee, prior to a Participant's Normal Retirement Age or Disability may not make any in-service distribution to the Participant with respect to his/her A...

In-Service Distribution. A distribution of the eligible portion of the account balance may be made to a participant who have been in the plan for a period of 24 months or apply for a financial hardship distribution. Additionally, in service distributions from nonelective contributions are available upon the participant attaining the normal retirement age of 55 as defined by the plan document. Elective deferrals are available for distribution upon attainment of age 59½ or due