Common use of Payment Commencement Date Clause in Contracts

Payment Commencement Date. Notwithstanding any other provision of the Plan, in the event that a Qualified Domestic Relations Order is received by the Plan Administrator, benefits shall be payable in accordance with such order and with Code section 414(p) and ERISA section 206(d). Payments may be made prior to the Participant's "earliest retirement age" (as defined in Code section 414(p) and ERISA section 206(d)), and are not subject to any other distribution or withdrawal restrictions provided in this Plan. The amount payable to the Participant and to any other person other than the alternate payee named in the order shall be adjusted accordingly. Pursuant to section 1.411(a)-11(c)(6) of the Regulations, and notwithstanding the provisions of Article VII, to the contrary, distributions to an alternate payee under the Plan shall not require the consent of the alternate payee, except as shall be provided for in the Qualified Domestic Relations Order applicable to such alternate payee. Any amounts held for the benefit of an alternate payee under the Plan shall be immediately distributable, without the consent of the alternate payee, after the Plan Administrator has determined that an order is a Qualified Domestic Relations Order, pursuant to the Plan's written administrative procedures for administering Qualified Domestic Relations Orders.

Payment Commencement Date. Notwithstanding any other provision of the Plan, in the event that a Qualified Domestic Relations Order is received by the Plan Administrator, benefits shall be payable in accordance with such order and with Code section 414(p) and ERISA section 206(d). Payments may be made prior to the Participant's "’s “earliest retirement age" ” (as defined in Code section 414(p) and ERISA section 206(d)), and are not subject to any other distribution or withdrawal restrictions provided in this Plan. The amount payable to the Participant and to any other person other than the alternate payee named in the order shall be adjusted accordingly. Pursuant to section 1.411(a)-11(c)(6) of the Regulations, and notwithstanding the provisions of Article VII, to the contrary, distributions to an alternate payee under the Plan shall not require the consent of the alternate payee, except as shall be provided for in the Qualified Domestic Relations Order applicable to such alternate payee. Any amounts held for the benefit of an alternate payee under the Plan shall be immediately distributable, without the consent of the alternate payee, after the Plan Administrator has determined that an order is a Qualified Domestic Relations Order, pursuant to the Plan's ’s written administrative procedures for administering Qualified Domestic Relations Orders.