Election to Suspend. If the Plan Administrator offered an election to suspend distributions, a Participant who is not a 5% owner who reached age 70½ prior to 1997 and who made the election may stop distributions and recommence by April 1 of the calendar year following the year in which the Participant actually retires. In such an event, the Plan Administrator may elect that a new Annuity Starting Date will begin upon the distribution recommencement date.
Appears in 5 contracts
Samples: Prototype Defined Contribution Plan, Prototype Defined Contribution Plan, Prototype Defined Contribution Plan (1st Constitution Bancorp)
Election to Suspend. If the Plan Administrator offered an election to suspend distributions, a Participant who is not a 5% owner who reached age 70½ 701/2 prior to 1997 and who made the election may stop distributions and recommence by April 1 of the calendar year following the year in which the Participant actually retires. In such an event, the Plan Administrator may elect that a new Annuity Starting Date will begin upon the distribution recommencement date.
Appears in 3 contracts
Samples: Participation Agreement (Sterling Chemicals Inc), Prototype Defined Contribution Plan (Athens Bancshares Corp), Sterling Chemicals Inc
Election to Suspend. If the Plan Administrator offered an election to suspend distributions, a Participant who is not a 5% owner who reached age 70½ 70 1/2 prior to 1997 and who made the election may stop distributions and recommence by April 1 of the calendar year following the year in which the Participant actually retires. In such an event, the Plan Administrator may elect that a new Annuity Starting Date will begin upon the distribution recommencement date.
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 Suspend. If the Plan Administrator offered an election to suspend distributions, a Participant who is not a 5% owner who reached age 70½ reaches Age 70 1/2 prior to 1997 and who made the election may stop distributions and recommence by April 1 1st of the calendar year following the year in which the Participant actually retires. In such an event, the Plan Administrator may may, on a uniform non-discriminatory basis, elect that a new Annuity Starting Date will begin upon the distribution recommencement date.
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