Election to Defer. If the Plan Administrator offered an election to defer distributions, a Participant who is not a 5% owner who reaches age 70½ in years after 1995 and who made the election by April 1 of the calendar year following the year in which he or she reached age 70½ (or by December 31, 1997, in the case of a Participant who reached age 70½ in 1996) may defer distribution until the calendar year following the calendar year in which his or her retirement occurs. If the Plan Administrator does not offer such an election, or if the election is offered but not made, the Participant will begin receiving distributions by April 1st of the calendar year following the year in which he or she reaches age 70½ (or by December 31, 1997 in the case of a Participant who reached age 70½ in 1996).
Appears in 5 contracts
Samples: Prototype Defined Contribution Plan, Prototype Defined Contribution Plan, Prototype Defined Contribution Plan (1st Constitution Bancorp)
Election to Defer. If the Plan Administrator offered an election to defer distributions, a Participant who is not a 5% owner who reaches age 70½ 701/2 in years after 1995 and who made the election by April 1 of the calendar year following the year in which he or she reached age 70½ 701/2 (or by December 31, 1997, in the case of a Participant who reached age 70½ 701/2 in 1996) may defer distribution until the calendar year following the calendar year in which his or her retirement occurs. If the Plan Administrator does not offer such an election, or if the election is offered but not made, the Participant will begin receiving distributions by April 1st of the calendar year following the year in which he or she reaches age 70½ 701/2 (or by December 31, 1997 in the case of a Participant who reached age 70½ 701/2 in 1996).
Appears in 3 contracts
Samples: Participation Agreement (Sterling Chemicals Inc), Prototype Defined Contribution Plan (Athens Bancshares Corp), Sterling Chemicals Inc
Election to Defer. If the Plan Administrator offered an election to defer distributions, a Participant who is not a 5% owner who reaches age 70½ 70 1/2 in years after 1995 and who made the election by April 1 of the calendar year following the year in which he or she reached age 70½ 70 1/2 (or by December 31, 1997, in the case of a Participant who reached age 70½ 70 1/2 in 1996) may defer distribution until the calendar year following the calendar year in which his or her retirement occurs. If the Plan Administrator does not offer such an election, or if the election is offered but not made, the Participant will begin receiving distributions by April 1st of the calendar year following the year in which he or she reaches age 70½ 70 1/2 (or by December 31, 1997 in the case of a Participant who reached age 70½ 70 1/2 in 1996).
Appears in 3 contracts
Samples: Prototype Defined Contribution Plan (Fraternity Community Bancorp Inc), Prototype Defined Contribution Plan (Old Dominion Freight Line Inc/Va), ASB Bancorp Inc
Election to Defer. If the Plan Administrator offered an election to defer distributions, a Participant who is not a 5% owner who reaches age 70½ Age 70 1/2 in years after 1995 and who made the election by April 1 1st of the calendar year following the year in which he or she reached age 70½ Age 70 1/2 (or by December 31, 1997, 31,1997 in the case of a Participant who reached age 70½ Age 70 1/2 in 1996) may defer distribution until the calendar year year, following the calendar year in which his or her retirement occurs. If the Plan Administrator does not offer such an election, or if the election is offered but not made, the Participant will begin receiving distributions by April 1st of the calendar year following the year in which he or she reaches age 70½ 70 1/2 (or by December 31, 1997 in the case of a Participant who reached age 70½ Age 70 1/2 in 1996).
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