Plan withdrawal definition

Plan withdrawal means a carrier's cessation of the issuance of one of the individual plans, and the nonrenewal of all in force individual plans of that type upon their respective anniversary dates.
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Plan withdrawal means a carrier’s cessation of the issuance of a standard health benefits plan and the nonrenewal on the anniversary date of all inforce small employer health benefits plans of that plan type.
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Examples of Plan withdrawal in a sentence

  • As soon as a Plan withdrawal or distribution to such Participant would otherwise be permitted, the Administrator may instruct the Trustee to execute upon its security interest in the Participant's Account by distributing the note to the Participant.

  • The Participant agrees to be bound by such termination, suspension or modification regardless of whether notice is given to the Participant of such event, subject in any case to the Participant’s right to timely withdraw from the Plan in accordance with the Plan withdrawal procedures then in effect.

  • Participant-initiated withdrawals or transfer requests directly or indirectly arising out of corporate acts such as spin-offs, divestitures, corporate relocations, layoffs, retirement incentive programs, partial or total Plan terminations, or the liberalization of Plan withdrawal or transfer rules, are all Contractowner Withdrawals.

  • As soon as a Plan withdrawal or distribution to such Participant would otherwise be permitted, the Administrator will direct the Trustee to execute upon its security interest in the Participant’s Account by segregating the unpaid loan balance from the Account, including interest to the date of default, and to distribute the note to the Participant.

  • In any such event, i) any corresponding Service Plan Schedule that is effective at the time of any such Service Plan withdrawal may only be suspended or terminated in accordance with the terms of the corresponding Service Plan Schedule or the main body of this CPA, and ii) the Broker may, at its option, offer an alternative Service Plan for the Customer to transfer to.

  • The Employer is responsible for obtaining the ----------------------------- required completed Plan withdrawal documentation from the Participant and the spouse, if applicable, for any benefits payable under the Plan.

  • This could have negative tax implications under some Plan withdrawal scenarios.

  • Subject to the terms of the Plan, withdrawal restrictions described in Section B do not apply to amounts attributable to contributions that are eligible rollover distributions as described in Section 1.403(b)-10(d) of the Treasury Regulations and that have been separately accounted for by the Company.

  • In any such event, any corresponding Addenda that is effective at the time of any such Service Plan withdrawal may only be suspended or terminated in accordance with the terms of corresponding Addenda or this CPA.

  • As soon as a Plan withdrawal or distribution to such Participant would otherwise be permitted, the Committee shall instruct the Trustee to distribute the note to the Participant.