Comcast 2014 Annual Report Download - page 276

Beginning Date, at which time his nonforfeitable interest shall commence to be paid to him. A Participant’s election to receive payment prior to
his Required Beginning Date may be made no earlier than 180 days prior to the Benefit Commencement Date elected by the Participant.
5.6.2. If a Participant’
s nonforfeitable interest in his Account is not greater than $1,000, his Benefit Commencement Date shall be the
earliest practicable date following the Valuation Date coincident with or next following the first day of the first calendar quarter that begins after
his Severance from Service Date and, provided the participant does not affirmatively elect to have the distribution of Account paid directly to an
eligible retirement plan in a direct rollover, his Account will be distributed in a cash lump sum. If a Participant’s nonforfeitable interest in his
Account is greater than $1,000 but not in excess of $5,000, and if the participant does not elect to have such distribution paid directly to an
eligible retirement plan specified by the Participant in a direct rollover or to receive the distribution directly, then the Participant’s vested
Account shall be distributed in a direct rollover to an individual retirement plan designated by the Committee. The preceding sentence shall not
apply to alternate payees (under qualified domestic relations orders, as defined in section 414(p) of the Code), surviving Spouses or
beneficiaries.
5.6.3. This Section shall apply to all Participants, including Participants who had a Severance from Service Date or ceased to be
Covered Employees prior to the Effective Date.
Section 5.7. Mode of Distribution of Retirement or Disability Benefits .
5.7.1. Except as provided to the contrary in this Article, a Participant may elect in writing to have his nonforfeitable interest in his
Account paid to him or applied for his benefit in accordance with any of the following modes of payment:
(a) in the case of a Participant whose nonforfeitable interest in his Account exceeds $5,000, approximately equal annual,
quarterly or monthly installments over a period designated by the Participant. The payment period shall be designated by the Participant by
electing a specific number of years, quarters or months. The Participant may designate the dollar amount to be received in each payment or may
elect to have each payment recalculated such that each payment will equal the balance in his Account as of the date of distribution divided by the
number of scheduled payments remaining; provided, however
, that the amounts payable to a Participant each year shall at least equal the amount
necessary to satisfy the requirements of section 401(a)(9) of the Code. A Participant may elect, in writing and according to uniform procedures
established by the Committee, at any time following the date he or she commences benefit payments under this Section 5.7.1(a) to change the
number of any remaining installment payments and/or the dollar amount paid to such Participant in each remaining installment payment.
(b) a single sum payment in cash, except that, with respect to distributions made prior to the liquidation of all Company Stock
and Investment Stock held in the Plan in accordance with Section 11.5.8, a Participant may elect to receive the portion of his Account invested in
Company Stock and/or Investment Stock in the form of shares.
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