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Your account
can be paid to you (usually in a lump sum), or through a direct rollover to
another qualifying plan, after you meet the eligibility requirements of
the Plan. In general, you become
eligible to withdraw your retirement account from the Qualified Savings Plan in
one of the following ways:
·
Normal Retirement – You
attain the age of 59½.
·
Disability – You incur total and permanent
disability and have received a letter from Social Security Disability stating
that you have been awarded disability benefits.
·
Termination – You have
had no employer contributions made on your behalf to the Plan for a period of 36
consecutive months prior to application and continuing throughout the time
between the date the application is submitted and the date the distribution
occurs. If contributions are
received at any time during the application review period before your benefit is
paid, you will not be eligible to receive a termination benefit distribution at
that time.
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