Time of Commencement of Benefits Clause Samples

Time of Commencement of Benefits. 8.6.1 Subject to Sections 8.6.2 through 8.6.5, payment to a Member under this Article VIII shall be made or commenced not later than the 60th day after the close of the Plan Year in which occurs the later of his most recent Termination of Employment or his Normal Retirement Date. 8.6.2 Distribution of the benefits of a Member shall be required hereunder (a) for a Member who is a five percent (5%) owner with respect to the Plan Year in which he attained age 70-1/2, by April 1 following such year, and (b) in any other case, by April 1 following the calendar year in which the Member attains age 70-1/2 or terminates employment, whichever is later. Distributions shall be made pursuant to this Section 8.6.2 as though the Member had retired. 8.6.3 If a Member receives a single sum distribution pursuant to Section 8.6.2, any contributions made to the Plan subsequently (and any forfeitures in lieu thereof) allocable to the Member’s Accounts shall be paid to the Member as soon as practicable after the end of the Plan Year for which such contributions are made. 8.6.4 Notwithstanding any provisions of this Plan to the contrary, in the event that the amount of a payment required to commence on the date otherwise determined under this Plan cannot be ascertained by such date, or if it is not possible to make such payment on such date because the Committee has been unable to locate the Member (or, in the case of a deceased Member, his Beneficiary) after making reasonable efforts to do so, a payment retroactive to such date may be made no later than 60 days after the earliest date on which the amount of such payment can be ascertained under this Plan or the date on which the Member (or Beneficiary) is located, whichever is applicable. 8.6.5 Notwithstanding any provision of the Plan to the contrary, with respect to distributions under the Plan made for calendar years, 2001 and 2002, the Plan will apply the minimum distribution requirements of section 401(a)(9) of the Code, including the incidental death benefit requirement, in accordance with the regulations under section 401(a)(9) that were proposed on January 17, 2001, and for the calendar year 2003 in accordance with the regulations under section 401(a)(9) published on April 17, 2002, and thereafter in accordance with the final regulations under section 401(a)(9) published on June 15, 2004.
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Time of Commencement of Benefits. Notwithstanding any other provision of the Plan, the following provisions of this Section 9.2 shall be applicable to all benefit payments:
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Related to Time of Commencement of Benefits

  • Commencement of Benefits The benefits commence six (6) months from the date that disability began, which shall include the period of payment under the terms of the Short Term Income Protection Plan. Proof of disability must be submitted within six (6) months following the Qualifying Period.

  • Payment of Benefits All or part of the contract benefits may be paid under one or more of the following: - a variable payment plan; - a fixed payment plan; or - in cash. The provisions and rate for variable and fixed payment plans are described in Section 11. Contract benefits may not be placed under a payment plan unless the plan would provide to each beneficiary a monthly income the initial amount of which is at least the minimum payment amount shown on page 4. A Withdrawal Charge will be deducted from contract benefits before their payment under certain conditions described in Section 7.3.

  • Extension of Benefits Upon termination of insurance, whether due to termination of eligibility, or termination of the Contract, an extension of benefits shall be provided for a period of no less than 30 days for completion of a dental procedure that was started before Your coverage ended.

  • Duration of Benefits Eligibility for Income Protection benefits will cease upon the earliest of the following dates: 1.09.01 the date the member is no longer disabled from performing the duties of their regular position, or any alternative employment made available to the member by the City. 1.09.02 the date the member's Income Protection benefits have been expended. 1.09.03 the date the member dies.

  • Termination of Benefits Except as provided in Section 2 above or as may be required by law, Executive’s participation in all employee benefit (pension and welfare) and compensation plans of the Company shall cease as of the Termination Date. Nothing contained herein shall limit or otherwise impair Executive’s right to receive pension or similar benefit payments that are vested as of the Termination Date under any applicable tax-qualified pension or other plans, pursuant to the terms of the applicable plan.