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DEMO CORPORATION PROFIT SHARING AND 401(K) PLAN

Distributions

You are eligible to apply for an account balance distribution from the Demo Corporation Profit Sharing and 401(k) Plan when you have terminated employment from Demo Corporation including one of its subsidiaries. Your distribution will be made available after all payrolls, including the payment of accrued vacation pay, have been processed by the Administrator of the Plan. The distribution process may take up to 60 days after you submit distribution papers to the Human Resources Department at Demo Corporation.

A distribution will only be made if you make application. If you fail to make an application for distribution your funds will remain in the plan until you request payment. If your account balance, however, is less than $5,000, the Trustees of the Plan may order a cash distribution on your behalf.

You may take your distribution in cash or you may roll the distribution over into another tax-deferred account. If you take the distribution in cash, the distribution will be subject to 20% federal withholding and may also be subject to a 10% penalty on premature distribution of retirement funds. Please be sure to read Special Tax Notice Regarding Plan Payments before you decide how to receive your benefits.

You may apply for a termination distribution by completing Election Of Direct Rollover For Qualifying Distribution. This is a one-page form.

These forms are in Adobe PDF format, which will produce an exact copy from your printer. Most browsers have the Adobe Acrobat Reader plugin you will need, but if yours does not, you can download a free copy here:

get acrobat reader

To submit a form to the Demo Corporation Human Resources Department:

  1. Print the form, then fill out the paper copy.
  2. Deliver it in person to Justin Example at the Bigtown Corporate Office or mail it to Justin Example, Demo Corporation, One Demo Ave, Bigtown, NY 14111
If you have any questions about this Web site, please contact Justin Example at 716-555-5555 or 800-555-5555 Ext. 3103 or justin.example@demo.com.