Beneficiary Direct Rollover Sample Clauses

Beneficiary Direct Rollover. (a) A Beneficiary (spouse and non-spouse) may elect a direct trustee-to-trustee transfer of a distribution from an Account to: (1) An individual retirement account described in Code Sections 408(a) or 408(b) that is established for the purpose of receiving the distribution on behalf of the Beneficiary. (2) A Xxxx individual retirement account under Code Section 408A(e) where the distribution is a “qualified rollover contribution” under Code Section 408A(e). (b) Any such trustee-to-trustee transfer shall be treated as a Direct Rollover of an Eligible Rollover Distribution for purposes of Code Section 402(c).
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
Beneficiary Direct Rollover. If elected under the Employer’s 403(b) Plan and effective for distributions made after December 31, 2006, a direct trustee-to-trustee transfer of any portion of a distribution from an eligible retirement plan may be made to an individual retirement plan described in section 408(a) or (b) (an “XXX”) that is established for the purpose of receiving the distribution on behalf of a designated beneficiary who is a beneficiary (whether spouse or nonspouse), and such transfer shall be treated as a direct rollover of an eligible rollover distribution for purposes of section 402(c).
Sample 1Sample 2See All (4)
Beneficiary Direct Rollover. A direct trustee-to-trustee transfer of any portion of a distribution from an eligible retirement plan may be made to an individual retirement plan described in section 408(a) or (b) (an “XXX”) that is established for the purpose of receiving the distribution on behalf of a designated beneficiary who is a beneficiary (whether spouse or non- spouse), and such transfer shall be treated as a direct rollover of an eligible rollover distribution for purposes of section 402(c).
Sample 1Sample 2
Beneficiary Direct Rollover. If elected under the Employer’s 403(b) Plan and effective for distributions made after December 31, 2006, a direct trustee-to-trustee transfer of any portion of a distribution from an eligible retirement plan may be made to an individual retirement plan described in section 408(a) or (b) (an “XXX”) that is established for the purpose of receiving the distribution on behalf of a designated beneficiary who is a Beneficiary (whether a spouse or nonspouse Beneficiary), and such transfer shall be treated as a direct rollover of an eligible rollover distribution for purposes of section 402(c). If elected under the Employer’s 403(b) Plan and effective for distributions made on or after January 1, 2008, a “qualified rollover contribution” as described in Section 408A(e) of the Code may be made from the Account to a Xxxx XXX in a direct rollover subject to the rules and provisions set forth in Code section 408A(e).
Sample 1

Related to Beneficiary Direct Rollover

  • Direct Rollovers (a) This section applies to distributions made on or after January 1, 1993. Notwithstanding any provision of the Plan to the contrary that would otherwise limit a distributee's election under this part, a distributee may elect, at the time and in the manner prescribed by the Plan Administrator, to have any portion of an eligible rollover distribution, that is equal to at least $500, paid directly to an eligible retirement plan specified by the distributee in a direct rollover.

  • How do the RMD Rules Impact my Designated Beneficiary or Beneficiaries The RMD rules provide for the determination of your designated beneficiary or beneficiaries as of September 30 of the year following your death. Consequently, any beneficiary may be eliminated for purposes of calculating the RMD by the distribution of that beneficiary’s benefit, through a valid disclaimer between your death and the end of September following the year of your death, or by dividing your IRA account into separate accounts for each of several designated beneficiaries you may have designated.

  • Beneficiary Designation The Participant may, from time to time, name any beneficiary or beneficiaries (who may be named contingently or successively) to whom any benefit under this Agreement is to be paid in case of his or her death before he or she receives any or all of such benefit. Each such designation shall revoke all prior designations by the Participant, shall be in a form prescribed by the Company, and will be effective only when filed by the Participant in writing with the Director of Human Resources of the Company during the Participant’s lifetime. In the absence of any such designation, benefits remaining unpaid at the Participant’s death shall be paid to the Participant’s estate.

  • Designation of Beneficiary The depositor may designate a beneficiary or beneficiaries to receive benefits from the custodial account in the event of the depositor’s death. In the event the depositor has not designated a beneficiary, or if all beneficiaries shall predecease the depositor, the following persons shall take in the order named: a. The spouse of the depositor; b. If the spouse shall predecease the depositor or if the depositor does not have a spouse, then to the depositor’s estate.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!