Hardship Withdrawals on Behalf of Primary Beneficiaries Sample Clauses

Hardship Withdrawals on Behalf of Primary Beneficiaries. Hardship withdrawals shall NOT be allowed to be taken on behalf of the primary beneficiary as permitted by Section 826 of the Pension Protection Act of 2006. (If this option is chosen such withdrawal shall NOT be allowed as penmitted under the terms of the Basic Plan Document #1). " TAX EXEMPT AND OOV£RN/.\!';NT ENTITIES DIVISION DEPARTMENT OF THE TREASURY INTERNAL REVENUE SERVICE WASHINGTON, D.C. 20224 Plan oe"cripUon= Proto ype tl'on-stdmlardhed Profit Sh;>ring Phn <ith COD/\ Ff'J: 3llJe2el901 010 C<>.'"' 200610329 £!11: ll-Jb890H BPD: 01 Pl n: 010 Letter Serial No= Ml87 69a Date of SubmHBion: Ol/ll/2006 DIV£RStFIE:D lliVESTME!!TS 1\.DV:i:SORS WC 4 HA11l!ATT.WVrtJ..E ROAD PURCHASE, NY 10577 Dcolr 1\pplicanc= Conto1<=t l'ernon: Xxxxxx Xxxxx/Xxxxxxx Xxxxx Telephone !IU:t'.ber: 513-263-l602/5ll-26l-l584 !n Rererence To: T£0!l::I:P:752l Date< 03/ll/2006 rn our opinion, the form of the plan identHi"d above h acceptable under eec:tion 401 of th Internal Revenue Cod" for uBe by e<t'.ployerB for the benefit of their employees. Thto opinion relate" only to the accepti>biUty of the !onn o the plJn under the Internal Revenue Code. It ill not an opinion of the effect of other Pederal or local ntatut<m. You muut furnlnh a copy of thio letter, a copy of the approved plan, and copie9 of any nubnequent aou:ndmenta to each er..ployer who adopts this plan. Thin letter conuideru the changen in qualUication requirements contained in the 2004 CUmulative Liue of 1/oUcco 2004-84, 2004·2 c.s. 1olo. Our opinion on the acceptability of the form of the plan ia not a ruling or determination "" to whether an employer'n plan qualifie.!l under Code nection 40l(a). However, an employer that adoptn thin plan may rely on this letter with renpect to the qualification of its plan under Code oection 401(a), au provided for in Rev. Proc. 2005·16, 2005·1 c. B. 674 and outlined below. Pleaae revie"' Announcement 2009·23 l.R.B. :<008-H to determine the Hema neceoaary for filing An applicAtion !or a determination letter H one h r quird tor reliance, or is ctherwiue deuired. The t r.-_, of the plan muot be !ollowd in operation. Clenero>lly, the employer ""'Y requ ot a d t rminilticn letter by filing an application "'ith l:tnployee Plans DetcrtrJinationo on !"OrtrJ 5107, 1\pplication !or Determination for Jldcpterl! of t'IO.Ater or Prototype or Volun:e Submitter Phn•.
Sample 1
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Hardship Withdrawals on Behalf of Primary Beneficiaries. Hardship withdrawals shall NOT be allowed to be taken on behalf of the primary beneficiary as permitted by Section 826 of the Pension Protection Act of 2006. (If this option is NOT chosen such withdrawal shall be allowed as permitted under the terms of the Basic Plan Document). 42 Cycle D EGTRRA 401(k) AA 4-27-09 SCHEDULE E BASIC PLAN DOCUMENT MODIFICATIONS This Schedule should be used to identify provisions in the Basic Plan Document that have been modified to accommodate unique provisions of the Plan. 43 Cycle D EGTRRA 401(k) AA 4-27-09 Sterling Chemicals, Inc. Savings and Investment Plan CASH OR DEFERRED BASIC PLAN DOCUMENT TABLE OF CONTENTS
Sample 1
Hardship Withdrawals on Behalf of Primary Beneficiaries. Hardship withdrawals shall NOT be allowed to be taken on behalf of the primary beneficiary as permitted by Section 826 of the Pension Protection Act of 2006. (If this option is NOT chosen such withdrawal shall be allowed as permitted under the terms of the Basic Plan Document). SCHEDULE E BASIC PLAN DOCUMENT MODIFICATIONS This Schedule should be used to identify provisions in the Basic Plan Document that have been modified to accommodate unique provisions of the Plan.
Sample 1

Related to Hardship Withdrawals on Behalf of Primary Beneficiaries

  • Hardship Withdrawals Hardship withdrawals, as provided for in paragraph 6.9 of the Basic Plan Document #04, [X] are [ ] are not permitted.

  • Designation of Beneficiaries The Executive may designate any person to receive any benefits payable under the Agreement upon the Executive’s death, and the designation may be changed from time to time by the Executive by filing a new designation. Each designation will revoke all prior designations by the Executive, shall be in the form prescribed by the Administrator and shall be effective only when filed in writing with the Administrator during the Executive’s lifetime. If the Executive names someone other than the Executive’s spouse as a Beneficiary, the Administrator may, in its sole discretion, determine that spousal consent is required to be provided in a form designated by the Administrator, executed by the Executive’s spouse and returned to the Administrator. The Executive’s beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Executive or if the Executive names a spouse as Beneficiary and the marriage is subsequently dissolved.

  • Hardship Distribution Upon the Board of Director's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.

  • Waiver of Distributions from Trust Account In connection with the Securities purchased pursuant to this Agreement, the Purchaser hereby waives any and all right, title, interest or claim of any kind in or to any distributions from the Trust Account.

  • Rights of Beneficiaries Each Beneficiary shall be entitled to participate in the rights and benefits due to a Beneficiary hereunder according to his Beneficial Interest. Each Beneficiary shall take and hold the same subject to all the terms and provisions of this Agreement. The interest of the Beneficiary hereby is declared and shall be in all respects personal property and upon the death of an individual Beneficiary, his Beneficial Interest shall pass as personal property to his legal representative and such death shall in no way terminate or affect the validity of this Agreement, provided that the Trustee shall not be required to evidence a book entry transfer of a deceased Beneficiary’s Beneficial Interest to his legal representative until the Trustee shall have received Letters Testamentary or Letters of Administration and written notice of the death of the deceased Beneficiary. A Beneficiary shall have no title to, right to, possession of, management of, or control of, the Trust Assets except as herein expressly provided. No widower, widow, heir, or devisee of any person who may be a Beneficiary shall have any right of dower, homestead, or inheritance, or of partition, or of any other right, statutory or otherwise, in any property forming a part of Trust Assets but the whole title to the Trust Assets shall be vested in the Trustee and the sole interest of the applicable Beneficiaries shall be the rights and benefits given to such Persons under this Agreement.

  • Distributions on Account of Separation from Service If and to the extent required to comply with Section 409A, no payment or benefit required to be paid under this Agreement on account of termination of the Executive’s employment shall be made unless and until the Executive incurs a “separation from service” within the meaning of Section 409A.

  • Payments to Plan Participants and Their Beneficiaries (a) Company shall deliver to Trustee a schedule (the "Payment Schedule") that indicates the amounts payable in respect of each Plan participant (and his or her beneficiaries), that provides a formula or other instructions acceptable to Trustee for determining the amounts so payable, the form in which such amount is to be paid (as provided for or available under the Plan), and the time of commencement for payment of such amounts. Except as otherwise provided herein, Trustee shall make payments to the Plan participants and their beneficiaries in accordance with such Payment Schedule. The Trustee shall make provision for the reporting and withholding of any federal, state or local taxes that may be required to be withheld with respect to the payment of benefits pursuant to the terms of the Plan and shall pay amounts withheld to the appropriate taxing authorities or determine that such amounts have been reported, withheld and paid by Company.

  • Unforeseeable Emergency In the event of a Participant’s Unforeseeable Emergency, such Participant may request an emergency withdrawal from his or her Account. Any such request shall be subject to the approval of the Administrator, which approval shall not be granted to the extent that such need may be relieved (i) through reimbursement or compensation by insurance or otherwise or (ii) by liquidation of the Participant’s assets (to the extent the liquidation of such assets would not itself cause severe financial hardship). A Participant may withdraw all or a portion of his or her Account due to an Unforeseeable Emergency; provided, however, that the withdrawal shall not exceed the amount reasonably needed to satisfy the need created by the Unforeseeable Emergency.

  • In-Service Withdrawals If elected in the Adoption Agreement, an Employer may elect to permit a Participant in the Plan to make an in-service withdrawal, subject to any limitation(s) specified in the Adoption Agreement.

  • Rollover Contributions An amount which qualifies as a rollover contribution pursuant to the Federal Internal Revenue Code may be transferred to and paid under this contract as a contribution for a Participant. Prudential may require proof that the amount paid so qualifies.

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