Common use of Beneficiary Distributions Clause in Contracts

Beneficiary Distributions. Upon your death, your beneficiaries are required to take distributions according to Code Section 401(a)(9) and Regulation 1.408-8. These requirements are described below. XXXX XXX DISTRIBUTION DUE TO DEATH OF AN IRA OWNER WHEN THE DATE OF DEATH IS ON OR PRIOR TO DECEMBER 31 , 2019 – If you have properly designated a beneficiary(ies), the entire value of your Xxxx XXX must be distributed to your beneficiaries within five years after your death, unless the designated beneficiary elects in writing, no later than September 30 of the year following the year in which you die, to take distributions over their life expectancy. These distributions must commence no later than December 31 of the calendar year following the calendar year of your death. Your designated beneficiary may name a subsequent beneficiary. Any subsequent beneficiaries must take distributions at least as frequently as the original designated beneficiary, provided the original beneficiary’s date of death is on or prior to December 31, 2019. If you do not properly designate a beneficiary, or all designated beneficiaries have predeceased you, your spouse shall becom e the beneficiary or, if no surviving spouse or unmarried, the distribution will be made to your estate. If your designated beneficiary is your spouse, your spouse may elect to treat your Xxxx XXX as their own. XXXX XXX DISTRIBUTIONS DUE TO DEATH OF AN IRA OWNER WHEN THE DATE OF DEATH IS ON OR AFTER JANUARY 1, 2020 – If you have one or more designated beneficiaries, all amounts remaining in your Xxxx XXX upon your death must be distributed no later than December 31 of the ca lendar year that contains the tenth anniversary of your death. If you have no designated beneficiary by September 30 of the year following the year in which you die, the entire value of your IRA must be distributed to your beneficiaries within five years after your death. An exception to the 10-year rule is made for eligible designated beneficiaries who elect in writing no later than 1 year after your death to take distributions over their life expectancy. An “eligible designated beneficiary” is any designated beneficiary named by the owner where such designation is received in proper form prior to the death of the owner and the designated beneficiary is:

Beneficiary Distributions. Upon your death, your beneficiaries are required to take distributions according to Code Section 401(a)(9) and Regulation 1.408-8. These requirements are described below. XXXX XXX DISTRIBUTION DUE TO DEATH OF AN IRA XXX OWNER WHEN THE DATE OF DEATH IS ON OR PRIOR TO DECEMBER 31 , 2019 – If you have properly designated a beneficiary(ies), the entire value of your Xxxx XXX must be distributed to your beneficiaries within five years after your death, unless the designated beneficiary elects in writing, no later than September 30 of the year following the year in which you die, to take distributions over their life expectancy. These distributions must commence no later than December 31 of the calendar year following the calendar year of your death. Your designated beneficiary may name a subsequent beneficiary. Any subsequent beneficiaries must take distributions at least as frequently as the original designated beneficiary, provided the original beneficiary’s date of death is on or prior to December 31, 2019. If you do not properly designate a beneficiary, or all designated beneficiaries have predeceased you, your spouse shall becom e the beneficiary or, if no surviving spouse or unmarried, the distribution will be made to your estate. If your designated beneficiary is your spouse, your spouse may elect to treat your Xxxx XXX as their own. XXXX XXX DISTRIBUTIONS DUE TO DEATH OF AN IRA XXX OWNER WHEN THE DATE OF DEATH IS ON OR AFTER JANUARY 1, 2020 – If you have one or more designated beneficiaries, all amounts remaining in your Xxxx XXX upon your death must be distributed no later than December 31 of the ca lendar year that contains the tenth anniversary of your death. If you have no designated beneficiary by September 30 of the year following the year in which you die, the entire value of your IRA XXX must be distributed to your beneficiaries within five years after your death. An exception to the 10-year rule is made for eligible designated beneficiaries who elect in writing no later than 1 year after your death to take distributions over their life expectancy. An “eligible designated beneficiary” is any designated beneficiary named by the owner where such designation is received in proper form prior to the death of the owner and the designated beneficiary is:

Beneficiary Distributions. Upon your death, your beneficiaries are required to take distributions according to Code Section 401(a)(9) and Regulation 1.408-8. These requirements are described below. XXXX XXX DISTRIBUTION DUE TO DEATH OF AN IRA OWNER WHEN THE DATE OF DEATH IS ON OR PRIOR TO DECEMBER 31 , 2019 – If you have properly designated a beneficiary(ies), the entire value of your Xxxx XXX must be distributed to your beneficiaries within five years after your death, unless the designated beneficiary elects in writing, no later than September 30 of the year following the year in which you die, to take distributions over their life expectancy. These distributions must commence no later than December 31 of the calendar year following the calendar year of your death. Your designated beneficiary may name a subsequent beneficiary. Any subsequent beneficiaries must take distributions at least as frequently as the original designated beneficiary, provided the original beneficiary’s date of death is on or prior to December 31, 2019. If you do not properly designate a beneficiary, or all designated beneficiaries have predeceased you, your spouse shall becom e become the beneficiary or, if no surviving spouse or unmarried, the distribution will be made to your estate. If your designated beneficiary is your spouse, your spouse may elect to treat your Xxxx XXX as their own. XXXX XXX DISTRIBUTIONS DUE TO DEATH OF AN IRA OWNER WHEN THE DATE OF DEATH IS ON OR AFTER JANUARY 1, 2020 – If you have one or more designated beneficiaries, all amounts remaining in your Xxxx XXX upon your death must be distributed no later than December 31 of the ca lendar calendar year that contains the tenth anniversary of your death. If you have no designated beneficiary by September 30 of the year following the year in which you die, the entire value of your IRA must be distributed to your beneficiaries within five years after your death. An exception to the 10-year rule is made for eligible designated beneficiaries who elect in writing no later than 1 year after your death to take distributions over their life expectancy. An “eligible designated beneficiary” is any designated beneficiary named by the owner where such designation is received in proper form prior to the death of the owner and the designated beneficiary is:

Beneficiary Distributions. Upon your death, your beneficiaries are required to take distributions according to Code Section 401(a)(9) and Regulation 1.408-8. These requirements are described below. XXXX XXX DISTRIBUTION DUE TO DEATH OF AN IRA XXX OWNER WHEN THE DATE OF DEATH IS ON OR PRIOR TO DECEMBER 31 , 2019 – If you have properly designated a beneficiary(ies), the entire value of your Xxxx XXX must be distributed to your beneficiaries within five years after your death, unless the designated beneficiary elects in writing, no later than September 30 of the year following the year in which you die, to take distributions over their life expectancy. These distributions must commence no later than December 31 of the calendar year following the calendar year of your death. Your designated beneficiary may name a subsequent beneficiary. Any subsequent beneficiaries must take distributions at least as frequently as the original designated beneficiary, provided the original beneficiary’s date of death is on or prior to December 31, 2019. If you do not properly designate a beneficiary, or all designated beneficiaries have predeceased you, your spouse shall becom e become the beneficiary or, if no surviving spouse or unmarried, the distribution will be made to your estate. If your designated beneficiary is your spouse, your spouse may elect to treat your Xxxx XXX as their own. XXXX XXX DISTRIBUTIONS DUE TO DEATH OF AN IRA XXX OWNER WHEN THE DATE OF DEATH IS ON OR AFTER JANUARY 1, 2020 – If you have one or more designated beneficiaries, all amounts remaining in your Xxxx XXX upon your death must be distributed no later than December 31 of the ca lendar calendar year that contains the tenth anniversary of your death. If you have no designated beneficiary by September 30 of the year following the year in which you die, the entire value of your IRA XXX must be distributed to your beneficiaries within five years after your death. An exception to the 10-year rule is made for eligible designated beneficiaries who elect in writing no later than 1 year after your death to take distributions over their life expectancy. An “eligible designated beneficiary” is any designated beneficiary named by the owner where such designation is received in proper form prior to the death of the owner and the designated beneficiary is: