Common use of Trust beneficiary Clause in Contracts

Trust beneficiary. If the Participant's named Beneficiary is a trust, the Plan may make a direct rollover to an IRA on behalf of the trust, provided the trust satisfies the requirements to be a "designated Beneficiary."

Appears in 1 contract

Sources: Disclosure Statements and Trust Agreements

Trust beneficiary. If the Participant's named Beneficiary is a trust, the Plan may make a direct rollover to an IRA on behalf of ▇f the trust, provided the trust satisfies the requirements to be a "designated BeneficiaryBeneficiary within the meaning of Code Section 401(a)(9)(E)."

Appears in 1 contract

Sources: Employee Stock Ownership Plan and Trust (Southwest Georgia Financial Corp)