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MANDATORY DISTRIBUTION
AMENDMENT
(Code Section 401(a)(31)(B))
ARTICLE I
APPLICATION OF AMENDMENT
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1.1
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Effective Date
. Unless a later
effective date is specified in Article III of this Amendment,
the provisions of this Amendment will apply with respect to
distributions made on or after March 28, 2005.
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1.2
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Precedence . This Amendment supersedes any
inconsistent provision of the Plan.
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1.3
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Adoption by prototype
sponsor .
Except as otherwise provided herein, pursuant to authority granted
by Section 5.01 of Revenue Procedure 2000-20, the sponsoring
organization of the prototype hereby adopts this amendment on
behalf of all adopting employers.
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ARTICLE II
DEFAULT PROVISION: LOWER MANDATORY CASH-OUT
THRESHOLD TO $1,000
Unless the
Employer otherwise elects in Article III of this Amendment,
the provisions of the Plan for the mandatory distribution of
amounts not exceeding $5,000, are amended as follows:
The $5,000
threshold in such provisions is reduced to $1,000 and the value of
the Participant’s interest in the Plan for such purpose shall
include any rollover contributions (and earnings thereon) within
the meaning of Code Sections 402(c), 403(a)(4), 403(b)(8),
408(d)(3)(A)(ii), and 457(e)(16).
ARTICLE III
EMPLOYER’S ALTERNATIVE ELECTIONS
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3.1
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Effective Date of
Plan Amendment
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This Amendment applies with respect
to distributions made on or
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