Qualified Distributions. A distribution of contributions or rollovers made pursuant to this ▇▇▇▇ ▇▇▇, that are held in a ▇▇▇▇ ▇▇▇ account for five (5) or more Taxable Years, will be Federal income tax-free and penalty-free if the distribution is made on account of: (a) the Individual having attained age 59 1/2, (b) the Individual’s death, (c) the Individual’s Disability, or
Appears in 2 contracts
Sources: Defined Contribution Plan (United Community Bancorp), Defined Contribution Plan (FNB United Corp.)
Qualified Distributions. A distribution of contributions or rollovers made pursuant to this ▇R▇▇▇ ▇▇▇, that are held in a ▇R▇▇▇ ▇▇▇ account for five (5) or more Taxable Years, will be Federal income tax-free and penalty-free if the distribution is made on account of:
(a) the Individual having attained age 59 1/2591/2,
(b) the Individual’s death,
(c) the Individual’s Disability, or
Appears in 1 contract
Qualified Distributions. A distribution of contributions or rollovers made pursuant to this ▇▇▇▇ ▇▇▇, that are held in a ▇▇▇▇ ▇▇▇ account for five (5) or more Taxable Years, will be Federal income tax-free and penalty-free if the distribution is made on account of:
(a) the Individual having attained age 59 1/2,
(b) the Individual’s death,
(c) the Individual’s Disability, or
Appears in 1 contract
Sources: Defined Contribution Plan (1st Constitution Bancorp)