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05/14/01 12:31 FAX PHIL BRETT <br />OVALIC <br />? LAW DIR Q005 <br />, rrRnAmricanGenrnelGmpany <br />ARTICLE IV - VALIC RESPONSIBILITIES <br />4.1 YAL[C shaU fumish a Notice of ReceiQt of Premium to Employer within 7 days of receiving funds. <br />4.2 VALIC shall furnish quarterly confirmation statements of accounts showing activity for the periotl and the <br />totat value of each Participant's-accaunt(s)-to (check.one.belQW): <br />a. Participanu; or. <br />b. ? the Employer. <br />4.3 VALTC shatl eomp'ute and deduct incame taxes.requiced by. law to be withheld for all distributions. <br />(check one below): <br />a. Yes. This option is only available !f you checked 2.5(a). (proceed ta 4:4} <br />b: No (proceed ro Arricle VI) <br />c. Only for Required i)isvibutions (complete 4.8 ared proceed to Arrrcle Vll) <br />4,4 VALIC shall issue the disbursements in accordance with the provisions of 4he Annuity Contiact and the Plan <br />at the direction.of and in atnounts specified, hy tha Employer. Such disbursements shall be made payable aixf mailed to <br />pazticipants. This does not apply if 4.3(b) was theclc$d <br />4.5 Dis6ursemenrs shail be made from tthe account maintained by VALIC on behalf of [he Employer in accor- <br />dmce with the terms of the Annuiey Contract and the Plan, provided, however, that if the Employer terminates the <br />Annuity. Connact. YAL1C shall be obligated to make disbursements only eo the extent that funds are still available in <br />the account of the Employer. <br />4.6 YAL1C shall compute_ and. deducc income taxes requued by law to be withheid from distributions from the <br />Plan as may be specified below by ihe Employer. A repon of such withheld taxes will be forwazded by VALIC to the <br />Intemal Revenue Seruice within the time prescribed.by law. This only appli¢s oj'you cheeked 2.5(a). . <br />a. Federal income;axes <br />(Specify one only): <br />wage bracket meihod for all distributions. <br />flat 28% rate for ail distributions. <br />wage bracket tnetlaai for.required distribuliQnr onty. <br />flat 28% rate for required disfributions only. <br />b. State income taxes <br />(Specify one only): <br />wage bracket method for all distributions. <br />cutrenc peccentage rate specifed by state law for all distributions. <br />wage bracket method for required distributions oeely. , <br />current.peccentage rate sgecified by state law for required distribrrtions oaly. <br />Employer agaees to fumish VALIC a properly completed Withhoiding Ailowance Certificate (Form W-4) for <br />each Partieipant reseiving a disbutsement subject to the wage bracket method.of withholding. VALIC will not <br />vvithhold Federal income tax for any employee who claims an exemption from withholding on Form W-4 by <br />indicating ao tax liability for the pceceding. year and none expecced for the cutrent ytar. <br />:!VriLI:1>t::,;a 1 , _ . <br />. <br />`i.'w;t:cYt:Ri?iG. • _ ' • c::?: