This excerpt taken from the EQR 10-Q filed May 8, 2008.
5.2 Educational Account
(a) An Eligible Employee or an Eligible Trustee may transfer any vested portion of his or her Plan Account into an Educational Account in accordance with this Section 5.2.
(b) An Educational Account may be established for any adopted or natural-born child of an Eligible Employee in order to finance such childs post-secondary undergraduate or graduate level education. An Eligible Employee wishing to establish an Educational Account shall so notify the Plan Administrator in writing, on a form prescribed by the Plan Administrator for that purpose, no later than: (i) with respect to an Educational Account established to finance a childs undergraduate education, the beginning of the childs last full academic year of high school (or comparable) education, or (ii) with respect to an Educational Account established to finance a childs graduate education, the beginning of the childs last full academic year of undergraduate education.
(c) All or part of the balance of an Eligible Employees Educational Account, adjusted for earnings, gains and losses, may be withdrawn by the Eligible Employee on a quarterly basis to pay expenses related to tuition, books, lodging and meals in connection with the
post-secondary undergraduate or graduate-level education (as applicable) of the child with respect to whom the Account was established, to the extent incurred at an accredited institution of higher learning; provided, however, that lodging expenses incurred as a result of the childs residence in a home owned directly or indirectly by the Eligible Employee shall not be reimbursed. Distribution of the balance of an Educational Account shall be governed by Section 7.5.
(d) Notwithstanding any other provision of this Plan to the contrary, no amount may be transferred or deposited into an Educational Account on or after January 1, 2005.