The Hartford 2008 Annual Report Download - page 789

10.4 Form of Payment. Withdrawal payments from The Hartford Stock Fund shall be made in the form of The Hartford
Stock, except that: (A) fractional shares will be paid in cash, (B) a recipient may request that such amounts be paid in cash,
and (C) hardship withdrawals will be paid in cash. Withdrawal payments from any Investment Fund other than The Hartford
Stock Fund shall be paid in cash in a single sum.
10.5 Death after Request for Withdrawal. If a Member dies after requesting a withdrawal, payment of the withdrawn
amounts will be made (or will not be made) in accordance with the rules in Article Nine for death after a loan request.
10.6 Direct Rollover of Withdrawals. Hardship Withdrawals do not qualify as “eligible rollover distributions” under
Article Eleven.
ARTICLE ELEVEN
DISTRIBUTIONS FROM ACCOUNTS
11.1 Types of Distributions.
(A) Distribution or Deferral for Members Under Age 70 1/2. Upon Termination of Employment, a Member may
request a distribution of the value of his or her Vested Share. If a Member does not make such a request, and the value
of such Vested Share is less than $5,000 (effective March 28, 2005, is $1,000 or less), such value will be paid to the
Member in a single lump sum payment as soon as practicable. If a Member does not make such a request, and the value
of the Member’s Vested share is $5,000 or more (effective March 28, 2005, is greater than $1,000), the Member shall
be deemed to request a deferral of the distribution of such Vested Share until such time that the Member reaches age 70
1/2. Such a Member automatically shall become a Deferred Member, and may request a distribution of all or part of the
Vested Share at any time before reaching age 70 1/2 (subject to a minimum distribution amount of $500 for any partial
distribution) in accordance with the Plan.
(B) Distributions to Certain Members who Have Reached Age 70 1/2. Effective January 1, 1998 or such later date
as determined by the Plan Administrator, except as provided below, a Member who reaches age 70 1/2 on or after
January 1, 1997 is not required to commence distribution of his or her Vested Share until Termination of his or her
Employment. However, such a Member may request a distribution of all or part of such Vested Share at any time after
reaching age 70 1/2 (subject to a minimum distribution amount of $500 for any partial distribution). A Member who
reaches age 70 1/2 on or after January 1, 1988 but before January 1, 1997 must have commenced distribution of his or
her Vested Share by no later than the April 1 following the year in which he or she attains age 70 1/2. A Deferred
Member or a Member who is a “5 percent owner” as defined in Code Section 414(q)(1) and (3) must commence
distribution of his or her Vested Share by no later than the April 1 following the year in which he or she reaches age 70
1/2. The Vested Share of such Member shall be paid under the payment method described in Section 11.6(A) below
assuming the maximum allowable number of payments based upon the Member’s age, if permissible under the terms of
that payment method. If payment under the terms of that payment method is not permissible, the Vested Share of the
Member shall be paid in an immediate lump sum. Alternatively, the Member may elect that his or her Vested Share be
paid under the payment method described in Section 11.6(B) below, if permissible under the terms of that payment
method, or in an immediate lump sum. Payment of the Vested Share of a Member who has reached age 70 1/2 pursuant
to this Section shall be made no less frequently than annually, and once such payment has commenced, the Member
may not elect an alternate method for payment of such Vested Share while the Member is still an Eligible Employee.
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009