Prior Plan Distribution Forms Clause Samples
Prior Plan Distribution Forms. The portions of the Accounts of Members attributable to balances transferred from prior plans will be eligible for installment or annuity forms of distributions that were available under such plans if distribution in respect thereof is to commence as of a date on or before February 1, 2002, and the Member's vested Accounts at termination of employment exceed $5,000. Otherwise, all amounts distributable to a Member whose employment terminates for any reason shall be paid in accordance with the foregoing provisions of this Article VIII.
Prior Plan Distribution Forms. The portions of the Accounts of Members attributable to balances transferred from prior plans will be eligible for installment or annuity forms of distributions that were available under such plans if distribution in respect thereof is to commence as of a date on or before February 1, 2002, and the Member’s vested Accounts at termination of employment exceed $5,000. All amounts distributable to a Member whose employment terminates for any reason shall be paid in cash in a single sum, unless the Member (a) had such a right to an alternative distribution form and (b) elected prior to February 2, 2002 to receive payment in such form starting as of or prior to February 1, 2002.