Common use of Applicable Life Expectancy Clause in Contracts

Applicable Life Expectancy. For purposes of this Article 5.3 of this Appendix, the life expectancy of the Participant or a Beneficiary, or the joint life and last survivor expectancy of the Participant and a Beneficiary, shall be determined by the following rules: (a) Life expectancy or joint life and last survivor expectancy shall be computed by using the expected return multiples contained in Tables V and VI of Treasury Regulation Section 1.72-9 and, where applicable, the minimum distribution incidental benefit table in Treasury Regulation Section 1.401(a)(9)-2. The life expectancies of the Participant and the Participant’s spouse (if the spouse is Beneficiary) shall be recalculated annually unless otherwise elected by the Participant (or the spouse in the case of distributions referred to in (d)(ii)(B) above) on or before the date minimum distributions are required to begin. Any such election by the Participant (or spouse) shall be irrevocable and shall apply to all subsequent years. The life expectancy of a Beneficiary who is not a spouse shall not be recalculated. For purposes of minimum distributions to be paid to the Participant’s Beneficiary in accordance with (d)(i) above, the applicable life expectancy shall be determined without regard to Treasury Regulation Section 1.401(a)(9)-2. (b) For purposes of determining the minimum distribution amounts to be paid to the Participant for each distribution calendar year, the life expectancy of the Participant, or the joint life and last survivor expectancy of the Participant and Beneficiary, shall be calculated based on the attained age of the Participant or Beneficiary as of the Participant’s or Beneficiary’s birthday in the first distribution calendar year. If life expectancy is being recalculated, the life expectancy of the Participant, or the joint life and last survivor expectancy of the Participant and the Participant’s spouse (if the spouse is Beneficiary), shall be calculated based on the attained age of the Participant and the spouse as of the Participant’s and spouse’s birthday in each succeeding distribution calendar year. (c) For purposes of determining the minimum distribution amounts to be paid to the Beneficiary for each calendar year under (d)(iii) above, the life expectancy of the Beneficiary shall be calculated based on the attained age of the Beneficiary as of the Beneficiary’s birthday in the calendar year in which distributions are required to begin under (d)(ii)(B). If life expectancy is being recalculated, the life expectancy of the Participant’s surviving spouse (if the spouse is the Beneficiary) shall be calculated based on the attained age of the spouse as of the spouse’s birthday in each succeeding calendar year. (d) For purposes of determining the joint life and last survivor expectancy of the Participant and the Beneficiary under (e)(i) above or life expectancy of the Beneficiary under (d)(ii)(B) above, the Participant’s Beneficiary shall mean the appropriate individual (if any) designated as Beneficiary under Article 5.9 as determined in accordance with the Department of Treasury regulations under Section 401(a)(9) of the Code.

Applicable Life Expectancy. For purposes The determination of this Article 5.3 of this Appendix, the life expectancy Applicable Life Expectancy depends on whether the term certain method or the recalculation method is being use to adjust the Life Expectancy in each Distribution Calendar Year. The recalculation method may only be used to determine the Life Expectancy of the Participant or and/or the Participant's spouse. The recalculation method is not available with respect to a nonspousal Designated Beneficiary. If the Designated Beneficiary is the Participant's spouse, or if the joint Participant's (or surviving spouse's) single life and last survivor expectancy of is the Participant and a Beneficiary, shall be determined by the following rules: (a) Applicable Life expectancy or joint life and last survivor expectancy shall be computed by using the expected return multiples contained in Tables V and VI of Treasury Regulation Section 1.72-9 and, where applicableExpectancy, the minimum distribution incidental benefit table in Treasury Regulation Section 1.401(a)(9)-2. The life expectancies of term certain method is used unless the Participant and the Participant’s spouse (if the spouse recalculation method is Beneficiary) shall be recalculated annually unless otherwise elected by the Participant (or by the spouse in surviving spouse). If the case Designated Beneficiary is not the Participant's spouse, the term certain method is used to determine the Life Expectancy of distributions referred both the Participant and the Designated Beneficiary, unless the recalculation method is elected by the Participant with respect to in his/her Life Expectancy. The term certain method will always apply for purposes of determining the Applicable Life Expectancy of a nonspousal Designated Beneficiary. An election to recalculate Life Expectancy (d)(ii)(Bor the failure to elect recalculation) above) on or before shall be irrevocable as of the date minimum distributions are required Participant's Required Beginning Date as to begin. Any such election by the Participant (or spouse) shall be irrevocable and shall apply to all subsequent years. The life expectancy of a Beneficiary who If the term certain method is not a spouse shall not be recalculatedbeing used, the Life Expectancy determined for the first Distribution Calendar Year is reduced by one for each subsequent Distribution Year. For purposes of minimum distributions to be paid to If the recalculation method is used, the following rules apply: (1) If the Life Expectancy is the Participant’s Beneficiary in accordance with 's (d)(ior surviving spouse's) abovesingle Life Expectancy, the applicable life expectancy shall be determined without regard to Treasury Regulation Section 1.401(a)(9)-2Applicable Life Expectancy is redetermined for each Distribution Year based on the Participant's (or surviving spouse's) age on his/her birthday which falls in such year. (b2) For purposes of determining If the minimum distribution amounts to be paid to the Participant for each distribution calendar year, the life expectancy of the Participant, or the Life Expectancy is a joint life and last survivor expectancy of the Participant and Beneficiary, shall be calculated Life Expectancy based on the attained age of the Participant or Beneficiary as of the Participant’s or Beneficiary’s birthday in the first distribution calendar year. If life expectancy is being recalculated, the life expectancy of the Participant, or the joint life and last survivor expectancy ages of the Participant and the Participant’s spouse (if 's spouse, and the spouse recalculation method is Beneficiary)elected with respect to both the Participant and his/her spouse, shall be calculated the Applicable Life Expectancy is redetermined for each Distribution Year based on the attained age ages of the individuals on their birthdays that fall in such year. (3) If the Life Expectancy is a joint and last survivor Life Expectancy based on the ages of the Participant and the spouse as of Participant's spouse, and the Participant’s recalculation method is elected with respect to only one such individual, or if the Life Expectancy is a joint and spouse’s birthday in each succeeding distribution calendar year. (c) For purposes of determining the minimum distribution amounts to be paid to the Beneficiary for each calendar year under (d)(iii) above, the life expectancy of the Beneficiary shall be calculated last survivor Life Expectancy based on the attained age of the Beneficiary as of the Beneficiary’s birthday in the calendar year in which distributions are required to begin under (d)(ii)(B). If life expectancy is being recalculated, the life expectancy of the Participant’s surviving spouse (if the spouse is the Beneficiary) shall be calculated based on the attained age of the spouse as of the spouse’s birthday in each succeeding calendar year. (d) For purposes of determining the joint life and last survivor expectancy ages of the Participant and a nonspousal Designated Beneficiary, and the Beneficiary under (e)(i) above or life expectancy of recalculation method is elected with respect to the Beneficiary under (d)(ii)(B) aboveParticipant, the Participant’s Beneficiary shall mean the appropriate individual (if any) designated as Beneficiary under Article 5.9 as Applicable Life Expectancy is determined in accordance with the Department of Treasury regulations under Section 401(a)(9) of the Codeprocedures outlined in Prop. Treas. Reg. ?1.401(a)(9)-1, E-8(b), or other applicable guidance.

Applicable Life Expectancy. For purposes of this Article 5.3 of this Appendix, the life expectancy of the Participant or a Beneficiary, or the joint life and last survivor expectancy of the Participant and a Beneficiary, shall be determined by the following rules: (a) Life expectancy or joint life and last survivor expectancy shall be computed by using the expected return multiples contained in Tables V and VI of Treasury Regulation Section 1.72-9 and, where applicable, the minimum distribution incidental benefit table in Treasury Regulation Section 1.401(a)(9)-2. The life expectancies of the Participant and the Participant’s spouse (if the spouse is Beneficiary) shall be recalculated annually unless otherwise elected by the Participant (or the spouse in the case of distributions referred to in (d)(ii)(B) above) on or before the date minimum distributions are required to begin. Any such election by the Participant (or spouse) shall be irrevocable and shall apply to all subsequent years. The life expectancy of a Beneficiary who is not a spouse shall not be recalculated. For purposes of minimum distributions to be paid to the Participant’s Beneficiary in accordance with (d)(i) above, the applicable life expectancy shall be determined without regard to Treasury Regulation Section 1.401(a)(9)-2. (b) For purposes of determining the minimum distribution amounts to be paid to the Participant for each distribution calendar year, the life expectancy of the Participant, or the joint life and last survivor expectancy of the Participant and Beneficiary, shall be calculated based on the attained age of the Participant or Beneficiary as of the Participant’s or Beneficiary’s birthday in the first distribution calendar year. If life expectancy is being recalculated, the life expectancy of the Participant, or the joint life and last survivor expectancy of the Participant and the Participant’s spouse (if the spouse is Beneficiary), shall be calculated based on the attained age of the Participant and the spouse as of the Participant’s and spouse’s birthday in each succeeding distribution calendar year. (c) For purposes of determining the minimum distribution amounts to be paid to the Beneficiary for each calendar year under (d)(iii) above, the life expectancy of the Beneficiary shall be calculated based on the attained age of the Beneficiary as of the Beneficiary’s birthday in the calendar year in which distributions are required to begin under (d)(ii)(B). If life expectancy is being recalculated, the life expectancy of the Participant’s surviving spouse (if the spouse is the Beneficiary) shall be calculated based on the attained age of the spouse as of the spouse’s birthday in each succeeding calendar year. (d) For purposes of determining the joint life and last survivor expectancy of the Participant and the Beneficiary under (e)(i) above or life expectancy of the Beneficiary under (d)(ii)(B) above, the Participant’s Beneficiary shall mean the appropriate individual (if any) designated as Beneficiary under Article 5.9 as determined in accordance with the Department of Treasury regulations under Section 401(a)(9) of the Code.