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Distributions by the Agent
Distributions by the Agent contract clause examples

A distributee may elect, at the time and in the manner prescribed by the plan administrator, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover.

Notwithstanding any provision of the Plan to the contrary that would otherwise limit a Distributee’s election under this Section, a Distributee may elect, at the time and in the manner prescribed by the Company, to have any portion of an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan specified by the Distributee in a Direct Rollover.

Direct Rollover of Eligible Distribution. A Participant or distributee may elect, at the time and in the manner prescribed by the Trustee or the Committee, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the Participant or distributee in a direct rollover. However, a distributee who is a designated beneficiary of the Participant but who is not the surviving Spouse of the Participant may only elect to have any portion of the eligible rollover distribution paid directly to an eligible retirement plan that is an individual retirement account described in Section 408(a) of the Code or an individual retirement annuity described in Section 408(b) of the Code (other than an endowment contract) in accordance with [Section 402(c)(11)].

Right to Transfer Eligible Rollover Distribution: A "Distributee" may elect, at the time and in the manner prescribed by the Committee, to have any portion of an "Eligible Rollover Distribution" paid directly to an "Eligible Retirement Plan" specified by the Distributee in a "Direct Rollover." The Committee may impose any restrictions that are permitted under applicable authorities on the right to transfer an Eligible Rollover Distribution.

9.4Direct Rollovers. Any Plan provision to the contrary notwithstanding, a distributee may elect, in the manner and pursuant to such procedures as may be prescribed or permitted by the Committee, to have all or any portion of an eligible rollover distribution paid directly to the eligible retirement plan specified by the distributee in the form of a direct rollover, all as provided in Code Sections 401(a)(31) and 402.

In order for a distributee to have all or any portion of an eligible rollover distribution paid to an eligible retirement plan as a direct rollover, such distributee must comply with such procedures as the Committee shall determine.

Right to direct rollover. Notwithstanding any provision of the Plan to the contrary that would otherwise limit a "distributee's" election under this Section, a "distributee" may elect, at the time and in the manner prescribed by the Administrator, to have an "eligible rollover distribution" paid directly to an "eligible retirement plan" specified by the "distributee" in a "direct rollover." However, if less than the entire amount of the "eligible rollover distribution" is being paid directly to an "eligible retire ment plan," then the Administrator may require that the amount paid directly to such plan be at least $500. Furthermore, the Administrator may apply this Section by treating a Participant's Roth Elective Deferral Account separately from the Participant's other Account s.

In the event of a mandatory distribution greater than $1,000 in accordance with the provisions of [Section 4.2(b)(2)(A)], if the participant does not elect to have such distribution paid directly to an eligible retirement plan specified by the participant in a direct rollover or to receive the distribution directly in accordance with [Section 4.3(d)], then the plan administrator will pay the distribution in a direct rollover to an individual retirement plan designated by the plan administrator.

Direct Rollover – A direct rollover is a payment by the plan to the eligible retirement plan specified by the distributee.

A Direct Rollover is a payment by the Plan directly to the Eligible Retirement Plan specified by the Distributee.

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