Common use of Default Distribution Methods (6 Clause in Contracts

Default Distribution Methods (6. 03). If the Investment Arrangement Documentation does not specify the distribution which would apply, the following distribution methods are available for a Participant, subject to any limitations in the Plan or the Investment Arrangement Documentation. (Choose one or more of (1) through (6)): (1) [X] Lump-Sum. (2) [X] Installments only if Participant subject to lifetime RMDs. A Participant who is required to receive lifetime RMDs may receive installments payable in monthly, quarterly or annual installments equal to or exceeding the annual RMD amount. (3) [X] Installments. (4) [ ] Annuity. Distribution of an Annuity Contract that the Vendor provides or purchases with the Participant's Vested Account Balance. (5) [X] Ad-Hoc distributions. (6) [ ] Describe distribution method(s): . [Note: The Employer under Election 39(b)(6) may describe Severance from Employment distribution methods from the elections available under Election 39(b) and/or a combination thereof (e.g., as to any Participant group or Accounts). An Employer's election under Election 39(b)(6) must: (i) be objectively determinable; (ii) not be subject to Employer or Plan Administrator discretion; (iii) be nondiscriminatory; and (iv) preserve Protected Benefits as required.]

Default Distribution Methods (6. 03). If the Investment Arrangement Documentation does not specify the distribution which would apply, the following distribution methods are available for a Participant, subject to any limitations in the Plan or the Investment Arrangement Documentation. (Choose one or more of (1) through (6)): (1) [X] Lump-Sum. (2) [X[ ] Installments only if Participant subject to lifetime RMDs. A Participant who is required to receive lifetime RMDs may receive installments payable in monthly, quarterly or annual installments equal to or exceeding the annual RMD amount. (3) [X] Installments. (4) [ [X] Annuity. Distribution of an Annuity Contract that the Vendor provides or purchases with the Participant's Vested Account Balance. (5) [X] Ad-Hoc distributions. (6) [ ] Describe distribution method(s): . [Note: The Employer under Election 39(b)(6) may describe Severance from Employment distribution methods from the elections available under Election 39(b) and/or a combination thereof (e.g., as to any Participant group or Accounts). An Employer's election under Election 39(b)(6) must: (i) be objectively determinable; (ii) not be subject to Employer or Plan Administrator discretion; (iii) be nondiscriminatory; and (iv) preserve Protected Benefits as required.]

Default Distribution Methods (6. 03). If the Investment Arrangement Documentation does not specify the distribution which would apply, the following distribution methods are available for a Participant, subject to any limitations in the Plan or the Investment Arrangement Documentation. (Choose one or more of (1) through (6)): (1) [X] Lump-Sum. (2) [X[ ] Installments only if Participant subject to lifetime RMDs. A Participant who is required to receive lifetime RMDs may receive installments payable in monthly, quarterly or annual installments equal to or exceeding the annual RMD amount. (3) [X] Installments. (4) [ [X] Annuity. Distribution of an Annuity Contract that the Vendor provides or purchases with the Participant's Vested Account Balance. (5) [X] Ad-Hoc distributions. (6) [ ] Describe distribution method(s): . [Note: The Employer under Election 39(b)(6) may describe Severance from Employment distribution methods from the elections available under Election 39(b) and/or a combination thereof (e.g., as to any Participant group or Accounts). An Employer's election under Election 39(b)(6) must: (i) be objectively determinable; (ii) not be subject to Employer or Plan Administrator discretion; and (iii) be nondiscriminatory; and (iv) preserve Protected Benefits as required.]