Benefit Distribution definition

Benefit Distribution means the date benefits under the Plan commence or are paid in full to a Participant, or because of his death, to his Beneficiary, which will occur within 90 days of notification to the Company of the event that gives rise to such distribution.
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Benefit Distribution means the date benefits under the Plan commence or are paid in full to a Participant, or because of
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Benefit Distribution means payments with respect to a Participant under the terms of the Employer Plan as distributions therefrom in any of the following circumstances:
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Examples of Benefit Distribution in a sentence

  • Any choice is subject to the Death Benefit Distribution Rules provision of this Contract.

  • Subsequent installment payments shall be computed in a consistent fashion, and shall equal the product of the value of the Participant's Account Balance, measured on the applicable anniversary of his Benefit Distribution Date, multiplied by 1/n.

  • The initial installment shall be the product of the value of the Participant's Account Balance, measured on his Benefit Distribution Date, multiplied by 1/n (where `n' is equal to the total number of annual benefit payments not yet distributed).

  • In the event a Participant has a Termination Event prior to his or her Early Benefit Distribution Date, his or her election of an Early Benefit Distribution Date shall not be given effect and distribution of the Participant’s Accounts, to the extent vested, shall be made in accordance with Section 5.1(a) without regard to the Early Benefit Distribution Date.

  • However, no amendment completed within twelve (12) full calendar months preceding the Participant’s Termination Event or Early Benefit Distribution Date, if applicable (whichever event or date gives rise to a payment of Benefits to the Participant), or that has the effect of accelerating payments, shall be given effect with respect to Benefits that become payable as of such Termination Event or Early Benefit Distribution Date, if applicable.

  • The vested amounts credited to a Participant’s Account shall be paid (or payment shall commence) within 60 days after the earlier of (i) the Early Benefit Distribution Date, if the Participant has made a valid election for early distribution of Benefits pursuant to Section 5.1(b), or (ii) a Termination Event.

  • Any election of an Early Benefit Distribution Date shall be irrevocable, both as to the date of distribution and as to the amount of the distribution.

  • Except as otherwise provided in Section 3.2(a) Plan Benefit Distribution Commencement Date with respect to an Unforeseeable Emergency and the following paragraphs, the Plan Benefit shall be distributed in sixty (60) substantially equal monthly installments.

  • The Committee, in its sole discretion, may either make a lump sum distribution at the time of Benefit Distribution or in equal monthly installments over the 60 month Plan termination benefit payment period.

  • We will pay the Death Benefit as a lump sum rather than as payments under a Payout Option if: 1) as of the date that the Death Benefit Value is to be applied to a Payout Option, the Death Benefit Distribution Rules provision of this Contract does not allow a two-year payout; or 2) the Death Benefit is less than $2,000.