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17 <br />GN - 150079 Specimen 457(b) Plan Document <br />GPLANLVL – CORRSPND Deferred Compensation Plan <br /> Ver 102011 <br />payment without the Participant’s or Beneficiary ’s consent as soon as practicable following the <br />Participant's retirement, death, or other Severance from Employment. <br />(a) If the Participant's or Beneficiary’s Account Balance is $1,000 (including the rollover <br />contribution separate account) or less, distribution shall be made in a lump sum payment, <br />unless the Participant or Beneficiary affirmatively elects distribution in a lump sum <br />payment or th rough a direct rollover to an "eligible retirement plan" specified by the <br />Participant or Beneficiary. <br /> <br />6.5 Forms of Distribution <br />In an election to commence benefits under Section 6.2, a Participant entitled to a distribution of <br />benefits under this Section VI may elect to receive payment in any of the following forms of <br />distribution: <br />(a) a lump sum payment of the Participant’s total Account Balance. <br />(b) partial distribution of the Participant’s Account Balance. <br />(c) in a series of installments over a period of years (payable on a monthly, quarterly, semi - <br />annual or annual basis) which extends no longer than the life expectancy of the <br />Participant as permitted under Code Section 401(a)(9). <br />6.6 Minimum Distribution Requirements <br />(a) General Rules. <br />Notwithstanding anything in this Plan to the contrary, distributions from this Plan shall <br />commence and be made in accordance with Code Section 401(a)(9) and the regulations <br />promulgated thereunder. Additionally, the requirements of this Section 6.6 will take <br />precedence over any inconsistent provisions of the Plan. <br />(b) Time and Manner of Distribution. <br />(i) Required Beginning Date . The Participant's entire interest will be distributed, or <br />begin to be distributed, to the Participant no later than the Participant's "required <br />beginning date ". <br />(ii) Death of Participant Before Distributions Begin . If the Participant dies before <br />distributions begin, the Participant's entire interest will be distributed, or begin to <br />be distributed, no later than as follows: <br />(A) If the Participant's surviving spo use is the Participant's sole "designated <br />Beneficiary", then distributions to the surviving spouse will begin by <br />December 31 of the calendar year immediately following the calendar year <br />470