Distribution of benefits shall commence 60 days after the end of the plan year in which a participant’s employment with the employer and all affiliates terminates, subject, however, to the following rules:
(A) If the amount of a payment to be made cannot be ascertained or if the person entitled to payment hereunder cannot be located, a retroactive payment shall be made no later than 60 days after the earliest date on which the amount of such payment can be ascertained or such person is located;
(B) If a participant dies before distribution of his or her interest has begun and such interest is payable over a period which extends beyond five years from such participant’s death to an individual affirmatively designated by the participant as his or her beneficiary, distribution shall commence no later than one year after such participant’s death (unless the designated beneficiary is the participant’s surviving spouse, in which case payment may commence no later than the date on which such participant would have attained age 70.5); and
(C) Distribution of benefits to a participant shall not begin prior to the participant’s normal retirement date hereunder (age 62), without such participant’s consent on such form and in such manner as the Committee may require unless the balance in his or her salary deferral contribution account does not exceed $3,500.
(Ord. MET 86-13, passed 5-30-1986)