Common use of Rollovers Disregarded in Involuntary Cash-outs Clause in Contracts

Rollovers Disregarded in Involuntary Cash-outs. For purposes of Section 10.1 of the Plan, the value of a Participant’s nonforfeitable account balance shall be determined including that portion of the account balance that is attributable to rollover contributions (and earnings allocable thereto) within the meaning of sections 402(c), 403(a)(4), 403(b)(8), 408(d)(3)(A)(ii), and 457(e)(16) of the Code effective on and after March 28, 2005. If the value of the Participant’s nonforfeitable account balance as so determined is $5,000 or less, the Plan shall immediately distribute the Participant’s entire nonforfeitable account balance in accordance with Section 9.1(c). The election shall apply with respect to distributions made after June 30, 2002.

Appears in 5 contracts

Samples: Lsi Industries Inc, Lsi Industries Inc, Lsi Industries Inc

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