eTrade 2008 Annual Report Download - page 225

The consent of the Participant to a benefit that is immediately distributable must not be made before the date the
Participant is provided with the notice of the ability to defer the distribution. Such consent shall be in writing.
The consent shall not be made more than 90 days before the Annuity Starting Date. The consent of the Participant
shall not be required to the extent that a distribution is required to satisfy Code Section 401(a)(9) or 415.
In addition, upon termination of this Plan, if the Plan does not offer an annuity option (purchased from a commercial
provider), and if the Employer (or any entity within the same Controlled Group) does not maintain another defined
contribution plan (other than an employee stock ownership plan as defined in Code Section 4975(e)(7)), the
Participant’s Account balance will, without the Participant’s consent, be distributed to the Participant. However, if
any entity within the same Controlled Group maintains another defined contribution plan (other than an employee
stock ownership plan as defined in Code Section 4975(e)(7)) then the Participant’s Account will be transferred,
without the Participant’s consent, to the other plan if the Participant does not consent to an immediate distribution.
A benefit is immediately distributable if any part of the benefit could be distributed to the Participant before the
Participant attains the older of Normal Retirement Age or age 62.
Spousal consent is needed to name a Beneficiary other than the Participant’s spouse. If the Participant names a
Beneficiary other than his spouse, the spouse has the right to limit consent only to a specific Beneficiary. The spouse
can relinquish such right. Such consent shall be in writing. The spouse’s consent shall be witnessed by a plan
representative or notary public. The spouse’s consent must acknowledge the effect of the election, including that the
spouse had the right to limit consent only to a specific Beneficiary and that the relinquishment of such right was
voluntary. Unless the consent of the spouse expressly permits designations by the Participant without a requirement
of further consent by the spouse, the spouse’s consent must be limited to the Beneficiary, class of Beneficiaries, or
contingent Beneficiary named in the election.
(c) Qualified Election. The Participant may make an election at any time during the election period. The Participant may
revoke the election made (or make a new election) at any time and any number of times during the election period. An
election is effective only if it meets the consent requirements below.
(1) Election Period for Retirement Benefits. The Participant may make an election as to retirement benefits at any time
before the Annuity Starting Date.
(2) Election Period for Death Benefits. A Participant may make an election as to death benefits at any time before he
dies.
(3) Consent to Election. If the Participant’s Vested Account (disregarding the portion, if any, of his Account resulting
from Rollover Contributions) exceeds $5,000, any benefit that is immediately distributable requires the consent of
the Participant.
RESTATEMENT DECEMBER 15, 2006
58 ARTICLE VI (5-19047)