In the event the participant’s interest in the Plan is of a community property nature, in whole or part, and such community property interest is awarded, in whole or part, to the participant’s spouse pursuant to proceedings for legal separation, dissolution, nullity, or other proceedings to terminate the marriage, then that portion of the participant’s interest in the Plan awarded to the participant’s spouse shall be paid to the participant’s spouse, but less nay income taxes required to be withheld, provided that the amount so paid shall not exceed the full amount of compensation credited to the participant’s account plus or minus subsequent gains or losses, less any income taxes required to be withheld, and further provided that the participant’s account shall be reduced accordingly. Distribution of such community property interest may not be made until distribution commences for the participant.
SECTION HISTORY
Added by Ord. No. 169,047, Eff. 10-23-93.