Distribution of Benefits. Members of this unit with at least one year of the service to the District may apply for a number of days consistent with a one-for-one match of their individual sick leave accumulation as of the end of the previous contract year brought forward to the year of the onset of disability. The combined benefit of accumulated personal sick leave and disability bank leave may not exceed one hundred-eighty days and may carry over from one contract year to another. Employees with less than one full year of service in the District will not be require to contribute one of their individual accumulated sick leave days to the disability bank. The Board reviews the right to request re-application and documentation from anyone requesting more than forty (40) days from the pool. Any benefits will be minus other insurance coverage (i.e. worker’s compensation, social security, etc.).
Distribution of Benefits. Payment to Executive shall occur within thirty (30) days of the effective date of Executive's vesting in his Deferred Bonus Account. For purposes of determining the distributable amount, the Deferred Bonus Account shall be valued through the day prior to the day on which the Deferred Bonus Account is distributed, less any claim, debt, reimbursement, recoupment, or offset the Company may have against Executive.
Distribution of Benefits. (a) (1) Unless otherwise elected as provided below, a Participant who is married on the "annuity starting date" and who does not die before the "annuity starting date" shall receive the value of all of his benefits in the form of a joint and survivor annuity. The joint and survivor annuity is an annuity that commences immediately and shall be equal in value to a single life annuity. Such joint and survivor benefits following the Participant's death shall continue to the spouse during the spouse's lifetime at a rate equal to 50% of the rate at which such benefits were payable to the Participant. This joint and 50% survivor annuity shall be considered the designated qualified joint and survivor annuity and automatic form of payment for the purposes of this Plan. However, the Participant may elect to receive a smaller annuity benefit with continuation of payments to the spouse at a rate of seventy-five percent (75%) or one hundred percent (100%) of the rate payable to a Participant during his lifetime, which alternative joint and survivor annuity shall be equal in value to the automatic joint and 50% survivor annuity. An unmarried Participant shall receive the value of his benefit in the form of a life annuity. Such unmarried Participant, however, may elect in writing to waive the life annuity. The election must comply with the provisions of this Section as if it were an election to waive the joint and survivor annuity by a married Participant, but without the spousal consent requirement. The Participant may elect to have any annuity provided for in this Section distributed upon the attainment of the "earliest retirement age" under the Plan. The "earliest retirement age" is the earliest date on which, under the Plan, the Participant could elect to receive retirement benefits.
Distribution of Benefits. The disposition of funds by distribution of annuities or benefits shall be as agreed between you and The Standard. Any disposition of funds may be subject to a Market Value Adjustment and a Surrender Charge.
Distribution of Benefits. 1. Contributions to the teacher’s 401(a) Plan will be considered to be vested after five (5) years of participation by the teacher in the plan or at retirement.
Distribution of Benefits a. Two Thousand Dollars ($2000) of Retirement/Severance benefits will be paid in June of the year of retirement.
Distribution of Benefits. Once the Participant has ceased to be an employee of the Corporation and has a vested Accrued Benefit, whether such termination of employment results from voluntary or involuntary termination, Disability or from the Participant's death, the vested Accrued Benefit of the Participant shall be payable as set forth in this Section. Distribution of the vested Accrued Benefit will commence within sixty days after the date that the Participant ceases to be an employee of the Corporation. The Participant shall elect to receive distribution of his vested Accrued Benefit in one of the following forms: (i) a single lump-sum distribution in cash or (ii) an installment distribution consisting of approximately equal annual cash installments over the five-year or ten-year period commencing at the time that distribution is to commence. The Participant shall elect a method of distribution at the time that he becomes the Participant. Any such election shall remain in effect until the election is properly modified or revoked pursuant to the following paragraph. Provided, however, that in the event of the Participant's death or Disability, the Corporation, in its sole discretion, will be permitted (but in no event obligated) to accelerate the payments to be made to the Participant under this Agreement.
Distribution of Benefits. Notwithstanding any provision of this contract to the contrary, the distribution of an individual's interest shall be made in accordance with the minimum distribution requirements of Section 408(a)(6) or Section 408(b)(3) of the Code and the regulations thereunder, including the incidental death benefit provisions of Section 1.401(a)(9)-2 of the proposed regulations, all of which are herein incorporated by reference. Your entire interest in the account must be distributed, or begin to be distributed, by your required beginning date, which is the April 1 following the calendar year in which you reach age 70 1/2. For each succeeding year, a distribution must be made on or before December 31. By the required beginning date you may elect to have the balance in the account distributed in one of the following forms:
Distribution of Benefits. Upon becoming entitled to the distribution of this Plan benefits, the Participants or their authorized representative must request from the Employer that their benefits be distributed. In such request, the Participant, or his' or her's authorized representative, must elect one of the following payment alternatives:
Distribution of Benefits. Benefits will be payable to an Owner of Benefits or a beneficiary under this contract as an annuity or in flexible income payments as described in Article IVA or in a single sum payment as described in Article IVB. Depending on Plan provisions, benefits may be payable at the request of the Owner of Benefits or because of a Plan Participant's
