10. ARE DISTRIBUTIONS AVAILABLE BEFORE MY NORMAL OR EARLY RETIREMENT DATE?

If you have terminated Covered Employment but have not reached your normal or early retirement date, you will be entitled to a distribution of your Individual Account, provided at least twelve consecutive months have passed since your most recent  employment in Covered Employment or Non-Covered Electrical Employment in the six county jurisdiction of the Plan, (See Article VI, Section 1(b) of the Plan Document),  or if you have been awarded a pension from the IBEW (I.O. Pension) or NEBF.

Amount of Distribution
The distribution will be equal to:

1. your Individual Account determined as of the valuation date coinciding with or immediately before the distribution,
2. plus any contributions paid into your Account since the most recent valuation date,
3. minus any distributions paid from your Account since the most recent valuation date.

You may elect to receive a partial distribution of your Individual Account, as long as the balance remaining in the Account is more than $5,000.00.

Form of Distribution
If you are married, your Account will be paid as a joint and 50% survivor annuity described in Question/Answer 8, unless you elect a single lump sum payment. Such election requires the written and notarized consent of your spouse  and must be made within 90 days before the distribution.

If you are not married, your Account will be paid as a single life annuity as described in Question/Answer 8 unless you elect a single lump sum distribution within 90 days before the date of distribution.

If your Individual Account is $5,000.00 or less, it will be paid in a single lump sum.