LIFE INSURANCE INVESTMENTS. The Participant's Accrued Benefit attributable to insurance contracts purchased on his behalf under Article XI is: (Choose (g) or (h))
LIFE INSURANCE INVESTMENTS. The Participant's Accrued Benefit attributable to insurance contracts purchased on his behalf under Article XI is: (Choose (g) or (h)) [N/A] (g) Subject to the vesting election under Options (a), (b) or (c). [ ] (h) 100% Nonforfeitable at all times, irrespective of the vesting election under Options (b) or (c)(2).
LIFE INSURANCE INVESTMENTS. (a) Subject to the limitations contained in the Joinder Agreement and this Section, individual or group life insurance policies and individual or group annuity contracts issued by one or more insurance companies may be purchased by the Plan. If individual policies or contracts are purchased for a Participant, such purchases may only be made with the Participant's written consent unless purchased pro rata for all Participants. The insured under such an individual policy or contract may be the Participant, his Spouse or his child or children under age 25, at the Participant's designation. The Plan Administrator may impose restrictions on the maximum amount of insurance which a Participant may select on his Spouse and/or children. Individual policies or contracts shall be considered an earmarked investment of the Participant's 401(k) Account, and premiums on such policies or contracts shall be charged to such 401(k)
LIFE INSURANCE INVESTMENTS. The Participant's Accrued Benefit attributable to insurance contracts purchased on his behalf under Article XI is subject to the vesting election under Options (a) or (b). -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 5.04 CASH-OUT DISTRIBUTIONS TO PARTIALLY-VESTED PARTICIPANTS/RESTORATION OF FORFEITED ACCRUED BENEFIT. The deemed cash-out rule described In Section 5.04(C) of the Plan: (Choose one)
LIFE INSURANCE INVESTMENTS. As of October 1, 1994. On and after October 1, 1994, Participants will not have the option of investing in life insurance contracts and may not direct the Limited Trustee to purchase any life insurance contracts. Participants may direct the Limited Trustee to sell or redeem the life insurance contracts as provided in subsection (a) above. A new Section 11.6 is added to the Plan Text to provide clarification of beneficiary determinations.
