PRIOR PLAN IN-SERVICE DISTRIBUTION RULES Sample Clauses

The "Prior Plan In-Service Distribution Rules" clause defines how distributions from a previous retirement or benefit plan can be made to participants while they are still employed. Typically, this clause outlines the conditions under which employees may access funds from an earlier plan, such as reaching a certain age or meeting specific service requirements, and may specify limits or procedures for such withdrawals. Its core function is to provide clear guidelines for accessing prior plan assets without requiring termination of employment, thereby offering flexibility to participants and ensuring compliance with applicable regulations.
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PRIOR PLAN IN-SERVICE DISTRIBUTION RULES. If designated by the Employer in Section 1.11(b), a Participant shall be entitled to withdraw at anytime prior to his termination of employment, subject to the provisions of Article 8 and the prior plan, any vested Employer Contributions maintained in a Participant's Account for the specified period of time.
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Related to PRIOR PLAN IN-SERVICE DISTRIBUTION RULES

  • Public Employees Retirement System “PERS”) Members.

  • Plan Termination Generally This Agreement may be terminated only by a written agreement signed by the Bank and the Executive. The benefit shall be the Accrual Balance as of the date this Agreement is terminated. Except as provided in Section 8.3, the termination of this Agreement shall not cause a distribution of benefits under this Agreement. Rather, upon such termination benefit distributions will be made at the earliest distribution event permitted under Article 2 or Article 3.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Effective Date of Benefit Termination Medical, dental and life coverage termination will take effect on the first of the month following the loss of eligible employee or dependent status. Disability benefit coverage terminations will take effect on the day following loss of eligible employee status.