Common use of Special Distribution Rules Clause in Contracts

Special Distribution Rules. No special distribution rules apply, unless specifically provided under this AA Β§10-3. 🞎 (a) In-service distributions will only be permitted if the Participant is 100% vested in the source from which the withdrawal is taken. 🞎 (b) A Participant may take no more than in-service distribution(s) in a Plan Year. 🞎 (c) A Participant may not take an in-service distribution of less than $ . 🞎 (d) A Participant may not take an in-service distribution of more than $ . πŸ—Ή (e) Unless elected otherwise under this subsection, the hardship distribution provisions of the Plan are not expanded to cover primary beneficiaries as set forth in Section 8.09(e)(4) of the Plan. If this subsection is checked, the hardship provisions of the Plan will apply with respect to individuals named as primary beneficiaries under the Plan. 🞎 (f) In determining whether a Participant has an immediate and heavy financial need for purposes of applying the non-safe harbor Hardship provisions under Section 8.09(e)(2) of the Plan, the following modifications are made to the permissible events listed under Section 8.09(e)(1)(i) of the Plan: [Note: This subsection may only be used to the extent a non-safe harbor Hardship distribution is authorized under AA 🞎 (g) Other distribution rules: [Note: This subsection may be used to apply the limitations under this AA Β§10-3 only to specific in-service distribution options (e.g., hardship distributions).]

Appears in 1 contract

Sources: Volume Submitter Governmental 403(b) Plan Adoption Agreement

Special Distribution Rules. No special distribution rules apply, unless specifically provided under this AA Β§10-3. 🞎¨ (a) In-service distributions will only be permitted if the Participant is 100% vested in the source from which the withdrawal is taken. οΏ½Β¨ οΏ½ (b) A Participant may take no more than in-service distribution(s) in a Plan Year. Β¨ 🞎 (c) A Participant may not take an in-service distribution of less than $ .Β¨ 🞎 (d) A Participant may not take an in-service distribution of more than $ Β¨ . πŸ—Ή (e) Unless elected otherwise under this subsection, the hardship distribution provisions of the Plan are not expanded to cover primary beneficiaries as set forth in Section 8.098.10(e)(5(e)(4) of the Plan. If this subsection is checked, the hardship provisions of the Plan will apply with respect to individuals named as primary beneficiaries under the PlaΒ¨ n. 🞎 (f) In determining whether a Participant has an immediate and heavy financial need for purposes of applying the non-safe harbor Hardship provisions under Section 8.08.10(e)(29(e)(2) of the Plan, the following modifications are made to the permissible events listed under Section 8.09(e8.10(e)(1)(i)(1)(i) of the Plan: [Note: This subsection may only be used to the extent a non-safe harbor Hardship distribution is authorized under AA 🞎 (g) Other distribution rules: [Note: This subsection may be used to apply the limitations undeΒ§10-1 or r this AA Β§10-3 only to specific in-service distribution options (e.g., hardship distrib2utions).]

Appears in 1 contract

Sources: Volume Submitter Profit Sharing/401(k) Plan Adoption Agreement (Rayonier Advanced Materials Inc.)