Distribution Processing Clause Samples

Distribution Processing. Distributions for benefit payments will be processed once a month based upon a mutually acceptable date determined immediately after the implementation period by Fidelity and the Plan Administrator. Distributions will only be processed if there is complete, accurate and properly authorized data received by Fidelity in the required media. All distribution requests received after the monthly cutoff date will be processed the following month. The monthly withdrawal date may be changed once each Plan Year based upon the written consent of Fidelity and the Employer. Fidelity shall not be responsible for: (i) making benefit payments to Participants under the Plan, (ii) any Federal, State or local income tax reporting or withholding with respect to such Plan benefits, and (iii) FICA (Social Security and Medicare) or any Federal or State unemployment tax with respect to Plan distributions.

Distribution Processing a. Distributions may be requested by the Participant via use of the Card, online portal reimbursement to self or payment to alternate payee (i.e., online ▇▇▇▇ pay) or via written request to the Health Account Services team. b. Benefitfocus will make available the following payment/reimbursement options: i. Check to Participant ii. Check to alternative payee, e.g., Provider, healthcare merchant iii. EFT to Participant (Direct deposit) iv. Card c. Benefitfocus will run a daily check and a daily NACHA cycle to process EFT’s.

Distribution Processing. Prudential will process requests for payment to participants, beneficiaries and alternate payees as permitted by the Adoption Agreement and upon being notified by the Employer that the payee has met the necessary standards for withdrawals. Prudential will provide the Employer (or other individual at the direction of the Employer) with the funds and the prescribed IRS tax notice to payees. Prudential will provide the appropriate Form 1099R following the end of the year in which the distribution occurred.

Distribution Processing. T. ▇▇▇▇ Price shall process distributions to Participants in accordance with procedures adopted by Client. If instructed by Client, T. ▇▇▇▇ Price shall withhold and deposit federal and state income taxes as may be required by law and prepare Internal Revenue Service Forms 1099-R or such other forms as may be required under the Code for the reporting of distributions, provided that Client provides T. ▇▇▇▇ Price with all information T. ▇▇▇▇ Price may need to calculate withholding and prepare reports of distributions.

Distribution Processing. Prudential will process requests for payment to participants, beneficiaries and alternate payees as permitted by the Plan and upon being notified by the Employer or TPA that the payee has met the necessary standards for withdrawals. Prudential will provide the Employer (or other individual at the direction of the Employer) with the funds and the prescribed IRS tax notice to payees.

Distribution Processing. 1. Distributions for benefit payments will be processed once a month based upon a mutually acceptable date determined immediately after the implementation period by Fidelity and the Plan Administrator. Distributions will only be processed if there is complete, accurate and properly authorized data received by Fidelity in the required media. All distribution requests received after the monthly cutoff date will be processed the following month. The monthly withdrawal date may be changed once each Plan Year based upon the written consent of Fidelity and the Employer. Fidelity shall not be responsible for: (i) making benefit payments to Participants under the Plan, (ii) any Federal, State or local income tax reporting or withholding with respect to such Plan benefits, and (iii) FICA (Social Security and Medicare) or any Federal or State unemployment tax with respect to Plan distributions. 2. Class Year Accounting (CYA). The Employer has elected CYA in its CPR Executive Plan and Fidelity hereby agrees to track specific contribution years in which contributions paid to the Trust will be distributed to the Participants. The Employer agrees that this will be tracked electronically and that the Participants will make their elections for distributions through the NetBenefitsSM website or any other application subsequently utilized by Fidelity for that purpose (“NetBenefitsSM”. The Employer understands that Fidelity will only track as part of the contributions constituting one class year those contributions actually received into the Trust by Fidelity during the calendar year. A Participant may not elect to defer a subsequent calendar year’s deferrals for a period of less than 12 months from the first day of the calendar year in which such deferrals would otherwise have been paid to the Participant. Notwithstanding the Employer having elected this CYA provision, all distributions for benefit payments will be paid in accordance with the distribution provisions provided in Section 1 of this Appendix D, except that distributions will be paid on the date established within Fidelity’s electronic tracking system. The following provision(s) of this Appendix E shall supersede the referenced provision(s) of this Agreement, subject to the terms and conditions contained herein: Title: Construction and Interpretation Description: Article II, Section 12, replace “Commonwealth of Massachusetts” with “Illinois” Exception Fee: Fee Waived Title: Indemnification Description: Article I...