All Other Participants in Service After Attaining Age 72. With regard to Participants other than 5% owners who continue to be active Employees after attaining age 72, distribution of their Accounts is not required until they terminate employment.
% Owners in Service After Attaining Age 72 With regard to a Participant who is a 5% owner (as defined in Code Section 416), payment of a benefit under the Plan shall commence no later than the April 1 next following the calendar year in which such Participant attains age 72, regardless of whether the Participant has retired or otherwise terminated employment as of such date
“Retirement” or “Retires” means a Separation from service by a Participant on or after # attaining the age of 55 with at least 5 years of service, or # attaining the age of 65.
If the Employee continues in service after attaining age 60, the Employee's retained interest shall commence after his subsequent Separation from
for Participants who are not covered by any defined benefit plan, termination of employment with PPL Corporation and all of its Affiliated Companies after # attaining age 55, or # for a Participant who at the time of termination of employment is an officer of PPL Corporation or any of its Affiliated Companies, after attaining age 50, if CLC, in its sole discretion, determines that such termination constitutes "Retirement" for purposes of this Plan.
Minimum Distribution Rules for Employees Who Continue in Service After Attaining Age 72. All distributions under the Plan shall be made in accordance with Code Section 401(a)(9).
XX # Full vesting after attaining age sixty-five (65) and completing at least ten (10) “years of continuous service” with the Company.
separates from service on or after attaining Normal Retirement Age (or the "qualified early retirement age") and after satisfying the eligibility requirements for the payment of benefits under the Plan and thereafter dies before beginning to receive such benefits;
Any Member who is an Employee and who has attained age 59 1⁄2 may withdraw an amount from his Accounts in one of the following forms:
For purposes of this [Schedule C], “active Employee” means an Employee who is still on the payroll, has been temporarily laid off, or who terminated employment due to Disability, death, or after attaining Normal Retirement Age during the Plan Year, but does not mean an Employee whose employment has been terminated effective on or before December 31 of the Plan Year. In addition, for purposes of applying the requirement of completing 1,000 Hours of Service for the Plan Year, such requirement shall not apply to Employees terminating after attaining Normal Retirement Age, provided they are not terminated for cause.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.