Beneficiary Elections Sample Clauses

Beneficiary Elections. With regard to Section III.A.5(a), unless otherwise elected by the Depositor, to the extent provided in procedures of the Custodian, the Designated Beneficiary of a Depositor who dies before his or her Required Beginning Date, shall retain the right to elect to have distributions paid over his or her single life expectancy as determined pursuant to Section III.A.5(a)(i) or by December 31 of the calendar year containing the fifth anniversary of the Depositor’s death pursuant to Section III.A.5(a)(ii) except that if a Designated Beneficiary fails to make such an election by the time distributions would otherwise be required to begin to such Beneficiary in accordance with Section III.A.5(a)(i), the Beneficiary shall be deemed, notwithstanding, to have elected the method of distribution described in Section III.A.5(a)(i).
Sample 1
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Beneficiary Elections. Unless otherwise elected by the Depositor, to the extent provided in procedures of the Custodian, only a Depositor’s Designated Beneficiary shall have the right to elect the method of distribution as described in Sections Such election is irrevocable and is required to be made by December 31 of the year following the year of the Depositor’s death or in the case of a surviving spouse as the sole Beneficiary of the Depositor’s Xxxx Custodial Account, by no later than the earlier of December 31 of the year distributions would be required to commence pursuant to Section III.B.3(a) or December 31 of the year the Depositor would have attained age 72 (70½ if born before July 1, 1949) had he or she continued to live, as described in Treasury Regulation section 1.408A-6. If a Designated Beneficiary fails to make such an election by the time required, the Beneficiary shall be deemed to have elected to take distributions over the single life expectancy of said Designated Beneficiary.
Sample 1

Related to Beneficiary Elections

  • Beneficiary Designations The Executive shall designate a beneficiary by filing a written designation with the Company. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations will only be effective if signed by the Executive and accepted by the Company during the Executive's lifetime. The Executive's beneficiary designation shall be deemed automatically revoked if the beneficiary predeceases the Executive, or if the Executive names a spouse as beneficiary and the marriage is subsequently dissolved. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive's estate.

  • 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.

  • Union elections (d) Reports of Union committees.

  • 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 Rollovers from Employer-Sponsored Retirement Plans If you are a spouse Beneficiary, nonspouse Beneficiary, or the trustee of an eligible type of trust named as Beneficiary of a deceased employer plan participant, you may directly roll over inherited assets from a qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, or 457(b) governmental deferred compensation plan to an inherited IRA. The IRA must be maintained as an inherited IRA, subject to the beneficiary distribution requirements.

  • Beneficiary The Participant may file with the Committee a written designation of a beneficiary on such form as may be prescribed by the Committee and may, from time to time, amend or revoke such designation.

  • Designated Beneficiary The individual who is designated as the Beneficiary under the Plan and is the designated beneficiary under Section 401(a)(9) of the Internal Revenue Code and Section 1.401(a)(9)-1, Q&A-4, of the Treasury regulations.

  • Written Election At the time you make a rollover or conversion to a Xxxx XXX, you must designate in writing to the custodian your election to treat that contribution as a rollover or conversion. Once made, the election is irrevocable.

  • 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:

  • Elections Any employee eligible to vote in a Federal, Provincial or Municipal election or a referendum shall have four (4) consecutive clear hours during the hours in which the polls are open in which to cast his/her ballot.

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