In any case, if the Actuarial Equivalent of the Retirement Benefit payable to or on behalf of a Member, determined as of the Member's Annuity Starting Date, is $5,000 or less, such Actuarial Equivalent amount shall be payable only in the form of a single lump sum, subject to the Member’s right to elect to have all or any portion of such Actuarial Equivalent amount transferred by direct rollover to an eligible retirement plan, in accordance with the provisions of [Section 6.07].

In any case, ifIf the Actuarial Equivalent of the Retirement Benefit payable to or on behalf of a Member, determined as of the Member's Annuity Starting Date,his termination of employment, is $5,000 or less, such Actuarial Equivalent amount shall be payable only intransferred, for the formbenefit of a single lump sum, subject to the Member’s right to elect to have all or any portion of such Actuarial Equivalent amount transferredMember, by direct rollover to an individual retirement account designated by the Committee, unless the Member expressly elects, on a timely basis, to have such Actuarial Equivalent amount transferred, by direct rollover, to an eligible retirement plan,plan (as defined in accordance with the provisions of [Section 6.07]. ) specified by the Member or to receive the distribution in a single lump sum payment.