Retirement Distributions Sample Clauses

Retirement Distributions. (1) NORMAL RETIREMENT AGE (PLAN SECTION 7.1). Normal retirement age will be the later of 60 (not over age 65) or ___ (not more than 5) years of participation in the Plan.
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Retirement Distributions. If a Participant's Normal or Early Retirement Date should occur prior to the termination of his employment with the Employer, all amounts then credited to such Participant's Account shall become 100% vested regardless of the number of the Participant's Years of
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Retirement Distributions. Depending upon the payment option elected, benefits shall commence under this Plan upon either separation from service, or attainment of age 70½. Benefits shall be paid in a lump sum or in annual installments over a period of not less than 5 years and not more than 15 years, depending on the payment schedule selected by the participant as stated in the Agreement. If the Agreement does not state a payment schedule, benefits will be paid in annual installments over 15 years. Both lump sum payments and the first installment payment will be made no later than 90 days after the date the participant separated from service, or attained age 70½ (whichever is applicable). Subsequent installment payments will be made annually following the end of the calendar quarter in which the anniversary of the date on which the participant separated from service, or attained age 70½ (whichever is applicable) occurs. Once an election has been made and payments have commenced, the participant cannot change the form or timing of the payments, except where payments are permitted under Section 8 of this agreement. The Employer shall be responsible for the payment of any taxes pursuant to federal, state, or local laws.
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Retirement Distributions. Normal retirement age is age 65. A participant may elect early retirement on or after age 55 and completion of 7 years of service. A participant may receive or commence distribution of his or her account at retirement. In-service distributions are permitted at age 59-1/2. The 401(k) Plan also permits loans and hardship distributions. Distribution may be made in the form of cash lump sums or other options permitted under the 401(k) Plan.
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Retirement Distributions. Pre-Retirement distributions are permitted for all contribution sources at age 59 ½ and a minimum of $1,000. Distributions from rollover contributions ONLY are allowed at any time.
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Retirement Distributions. Shortly before severance from employment, or attainment of age 70½, whichever occurs first (but not later than the date prescribed in the applicable regulations under Code section 457), a participant shall select whether benefits shall be paid in a lump sum, or in annual installments over a period not less than 5 years and not more than 15 years. If no such election is made, benefits will be paid in annual installments over 15 years. Except as provided by Section 8, both lump sum payments and the first installment payment will be made no later than 90 days after the date that the participant severed from employment, or attained age 70½ (whichever is applicable). Subsequent installment payments will be made annually by the end of the calendar quarter in which the anniversary of the date on which the participant severed from employment, or attained age 70½ (which is applicable) occurs. Once an election has been made and payments have started, the participant cannot change the form or timing of the payments, except where payments are permitted under section 10 of this agreement. The Employer shall reduce the amount of any distribution by any taxes withheld pursuant to federal, state, or local law. Notwithstanding any provision of the Plan to the contrary, payments to a participant shall be made in compliance with the requirements of Code sections 401(a)(9) and 457(d) and applicable regulations thereunder.
Sample 1
Retirement Distributions 
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Related to Retirement Distributions

  • Interim Distributions At such times as may be determined by it in its sole discretion, the Trustee shall distribute, or cause to be distributed, to the Beneficiaries, in proportion to the number of Trust Units held by each Beneficiary relating to the Trust, such cash or other property comprising a portion of the Trust Assets as the Trustee may in its sole discretion determine may be distributed without detriment to the conservation and protection of the Trust Assets in the Trust.

  • Regular Distributions Subject to the rights of the holders of Preferred Units ranking senior to or on parity with the Series H Preferred Units, the holders of Series H Preferred Units shall be entitled to receive on each Distribution Payment Date, out of assets of the Partnership legally available for the payment of the distributions, monthly cumulative cash distributions at the following rates per annum on the $1,000 liquidation preference per Series H Preferred Unit:

  • In-Service Distributions [X] (1) In-service distributions may be made from any of the Participant's vested Accounts, at any time upon or after the occurrence of the following events (select all applicable): [X] (a) a Participant's attainment of age 59-1/2. [X] (b) due to hardships as defined in Section 5.9 of the Plan. [ ] (2) In-service distributions are not permitted.

  • Death After Separation from Service But Before Benefit Distributions Commence If the Executive is entitled to benefit distributions under this Agreement, but dies prior to the commencement of said benefit distributions, the Bank shall distribute to the Beneficiary the same benefits that the Executive was entitled to prior to death except that the benefit distributions shall commence within thirty (30) days following receipt by the Bank of the Executive’s death certificate.

  • Interest Distributions On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Interest Remittance Amount and apply it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, to the extent available:

  • Special Distributions In case the Company shall fix a record date for the making of a distribution to all holders of shares of Common Stock (including any such distribution made in connection with a consolidation or merger in which the Company is the surviving corporation) or evidences of indebtedness or assets (other than dividends and distributions referred to in Sections 4(c) and 4(d) above and other than cash dividends) or of subscription rights, options, warrants, or exchangeable or convertible securities containing the right to subscribe for or purchase shares of any class of equity securities of the Company (excluding those referred to in Section 4(e) above), the Warrant Price to be in effect on and after such record date shall be adjusted by multiplying the Warrant Price in effect immediately prior to such record date by a fraction (i) the numerator of which shall be the fair market value per share of Common Stock on such record date, less the fair value (as determined by the Board of Directors of the Company in good faith as set forth in a duly adopted board resolution certified by the Company's Secretary or Assistant Secretary) of the portion of the assets or evidences of indebtedness so to be distributed or of such subscription rights, options, warrants, or exchangeable or convertible securities applicable to one (1) share of the Common Stock outstanding as of such record date, and (ii) the denominator of which shall be such fair market value per share of Common Stock. Such adjustment shall be made successively whenever such a record date is fixed; and in the event that such distribution is not so made, the Warrant Price shall again be adjusted to be the Warrant Price which would then be in effect if such record date had not been fixed, but such subsequent adjustment shall not affect the number of Warrant Shares issued upon any exercise of this Warrant prior to the date such subsequent adjustment was made. h.

  • Final Distributions Section 8.01. Sale of Receivables or Certificateholders' Interest pursuant to Section 2.06 or 10.01 of the Agreement and Section 7.01 or 7.02 of this Supplement.

  • Allocations Distributions Each item of income, gain, loss, deduction and credit of the Company shall be allocated 100% to the Member. Each distribution of cash or other property by the Company shall be made 100% to the Member. Distributions shall be made to the Member at the times and in the amounts determined by the Member.

  • Liquidating Distributions Notwithstanding anything to the contrary in this Article VII or in Section 8.3 of the Master Agreement, upon the sale of the Property or the dissolution and liquidation of the Series in accordance with the provisions of this Agreement and of Section 8.3 of the Master Agreement, the proceeds of liquidation of the Series or the sale of the Property will be distributed within ninety (90) days of the date of sale of the Property or the dissolution and liquidation in the following order and priority:

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