(A) In addition to (and not by limitation upon) the provisions of the plan and any provision of applicable law, any benefit or interest available under the plan, or any right to receive or instruct payments under the plan, or any distribution or payment made under the plan shall not be subject to assignment (except under a disclaimer permitted by § 34.112), alienation, garnishment, attachment, transfer, anticipation, sale, mortgage, pledge, hypothecation, commutation, transfer by operation of law, execution or levy (except according to § 35.029) or other encumbrance of any kind, whether by the voluntary or involuntary act of any interested person, for any reason (including, but not limited to, divorce, marital separation, alimony, child support, bankruptcy, insolvency) or any other order of any court at law or equity.
(B) The participant or beneficiary has no right to commute, sell, assign, pledge, transfer or otherwise convey, use or encumber any right or future interest to receive any payments under the plan, and each such right or interest is expressly declared to be non-assignable and non-transferable. Any attempted alienation or encumbrance is void.
(C) Any right of the participant or beneficiary is personal and, except as provided below, cannot be exercised by any personal representative, attorney, trustee, guardian, conservator, trustee in bankruptcy, court of law or equity or other person or entity seeking to act in the name of or by the right of the participant or beneficiary. However, the Plan Administrator may accept instructions given by a personal representative if the participant or beneficiary is determined to be incompetent or incapacitated by a court of competent jurisdiction or by written expert opinion acceptable to the Plan Administrator.
(D) This section shall not be construed to preclude the payment of any fees or any expenses (including taxes) of the plan-trustee deferred compensation (and any right or future interest of the participant or beneficiary) is not subject to the rights of creditors of the participant or beneficiary.
(Ord. NIRC 97-1, passed 1-15-1997)