(A) Any distribution is payable by or on behalf of the plan-trustee or issuer only upon the plan- trustee’s or issuer’s receipt in good order of the Plan Administrator’s approval of the distributee’s claim.
(B) Except to the extent otherwise expressly provided by the investment(s), any payment or payout option shall be determined as of the valuation date requested by the participant or beneficiary or, if later, as of the valuation date that next follows the issuer’s or plan-trustee’s receipt in good order (within the meaning of the investment(s) or applicable law) the approved claim.
(Ord. NIRC 97-1, passed 1-15-1997)