Distribution Commencement Date. The date an Employee commences distribution from the Plan. If a Participant commences distribution with respect to a portion of his/her Account Balance, a separate Distribution Commencement Date applies to any subsequent distribution. If distribution is made in the form of an annuity, the Distribution Commencement Date may be treated as the first day of the first period for which annuity payments are made.
Distribution Commencement Date. Except as limited in paragraphs (a) and (b) above, the Trustee shall commence benefit payments for all claims authorized for payment in a Plan Year no later than 60 days following the end of the applicable Plan Year or as soon thereafter as is practicable, but in no event later than 180 days after the end of the applicable Plan Year, except where such delay is required by special circumstances. Such special circumstances include the transfer, merger and/or consolidation of assets of this Plan with another plan, liquidation of assets or surrender of insurance contracts, the partial or full termination of the Plan, or irregularities discovered in the books of the Plan as a result of an audit or investigation of the Plan, or any other unusual circumstances that would cause a prudent man to delay allocating earnings and losses in the Trust. Such benefit payments shall be delayed until the Named Fiduciaries agree that the records and books of the Plan are in sufficient order and in accordance with generally accepted accounting practices so that benefit payments can fairly and accurately be made. In such matters, the decision of the Named Fiduciaries shall be final, binding and conclusive. Furthermore, unless a Participant elects otherwise, and subject to the limitations in paragraphs (a) and (b), payment of his benefits under this Plan shall be made or commence no later than the 60th day after the later of:
Distribution Commencement Date. For purposes of paragraphs (a) and (b) above, required distributions are considered to commence on the owner’s required beginning date or, if applicable, on the date distributions are required to begin to the surviving spouse under paragraph (b)(ii) above. However, if distributions start prior to the applicable date in the preceding sentence on an irrevocable basis (except for acceleration) under an annuity contract meeting the requirements of Section 1.401(a)(9)-6 of the Income Tax Regulations, then required distributions are considered to commence on the annuity starting date.
Distribution Commencement Date. (a) Subject to (b), (c) and 7.3 and 7.7 below, the Committee shall set the starting date of distribution from the Regular, Optional and other Accounts of the Participant for as soon as administratively practicable following the date or events set forth in the adoption agreement. The adoption agreement may also specify that different Accounts of a single Participant, or portions of the Participant's Accounts, are subject to different distribution starting dates.
Distribution Commencement Date
