Common use of Death Distributions Clause in Contracts

Death Distributions. If you die on or after your required beginning date distributions must be made to your beneficiary(ies) over the longer of the single life expectancy of your designated beneficiary(ies) or your remaining life expectancy, fixed in the year of death, and nonrecalculating in subsequent years. If a beneficiary other than an individual or qualified trust as defined in the Regulations is named, you will be treated as having no designated beneficiary of your IRA for the purpose of determining the distribution period. If your IRA does not have a designated beneficiary, distributions will begin utilizing your single life expectancy, reduced by one each year thereafter. If you die before your required beginning date the entire amount remaining in your Account will, at the election of your designated beneficiary(ies), either be distributed by the December 31st of the year containing the fifth anniversary of your death or be distributed over the remaining life expectancy of your designated beneficiary(ies). If a beneficiary other than an individual or qualified trust as defined in the Regulations is named, you will be treated as having no designated beneficiary of your IRA for purposes of determining the distribution period. If there is no designated beneficiary of your IRA, the entire IRA must be distributed by the December 31st of the year containing the fifth anniversary of your death. Your designated beneficiary(ies) must make an election by the December 31st of the year following the year of your death. If no election is made the entire balance of your Account will be distributed over the remaining life expectancy of your designated beneficiary(ies). In such case distributions must commence by the December 31st of the year following the year of your death. If your spouse is the sole beneficiary of your Account, he or she will generally have the following three choices:

Death Distributions. If you die before your required beginning date and you have a designated beneficiary, the balance in your IRA will be distributed to your beneficiary over the beneficiary's single life expectancy. These distributions must commence no later than December 31st of the calendar year following the calendar year of your death. However, if your spouse is your sole beneficiary, these distributions are not required to commence until the December 31st of the calendar year you would have attained the age of 70 ½ or 72 (see Article IV 4.4 above), if that date is later than the required commencement date in the previous sentence. If you die before your required beginning date and you do not have a designated beneficiary, the balance in your IRA must be distributed no later than the December 31st of the calendar year that contains the fifth anniversary of your death. If you die on or after your required beginning date distributions must and you have a designated beneficiary, the balance in your IRA will be made distributed to your beneficiary(ies) beneficiary over the longer of the beneficiary's single life expectancy of your designated beneficiary(ies) or your remaining life expectancy, fixed in . These distributions must commence no later than December 31st of the calendar year following the calendar year of your death, and nonrecalculating in subsequent years. If a beneficiary other than an individual you die on or qualified trust as defined in the Regulations is named, after your required beginning date and you will be treated as having no designated beneficiary of your IRA for the purpose of determining the distribution period. If your IRA does do not have a designated beneficiary, distributions will begin utilizing the balance in your IRA must be distributed over a period that does not exceed your remaining single life expectancy, expectancy determined in the year of your death reduced by one each year thereafter. If you die before your However, the required beginning minimum distribution for the calendar year that contains the date the entire amount remaining in your Account will, at the election of your designated beneficiary(ies), either be distributed by the December 31st of the year containing the fifth anniversary of your death or is still required to be distributed over the remaining life expectancy of your designated beneficiary(ies)distributed. If a beneficiary other than an individual or qualified trust Such amount is determined as defined in the Regulations is named, if you will be treated as having no designated beneficiary of your IRA for purposes of determining the distribution period. If there is no designated beneficiary of your IRA, the entire IRA must be distributed by the December 31st of the year containing the fifth anniversary of your death. Your designated beneficiary(ies) must make an election by the December 31st of the year following the year of your death. If no election is made the entire balance of your Account will be distributed over the remaining life expectancy of your designated beneficiary(ies). In such case distributions must commence by the December 31st of the year following the year of your deathwere still alive throughout that year. If your spouse is your sole beneficiary, your spouse may elect to treat your IRA as his or her own IRA, whether you die before or after your required beginning date. If you die after your required beginning date and your spouse elects to treat your IRA as his or her own IRA, any required minimum that has not been distributed for the sole beneficiary year of your Account, he or she will generally have death must still be distributed to your surviving spouse and then the following three choices:remaining balance can be treated as your spouse's own IRA.

Death Distributions. If you die on or after your required beginning date distributions must be made to your beneficiary(ies) over the longer of the single life expectancy of your designated beneficiary(ies) or your remaining life expectancy, fixed in the year of death, and nonrecalculating in subsequent years. If a beneficiary other than an individual or qualified trust as defined in the Regulations is named, you will be treated as having no designated beneficiary of your IRA XXX for the purpose of determining the distribution period. If your IRA XXX does not have a designated beneficiary, distributions will begin utilizing your single life expectancy, reduced by one each year thereafter. If you die before your required beginning date the entire amount remaining in your Account will, at the election of your designated beneficiary(ies), either be distributed by the December 31st of the year containing the fifth anniversary of your death or be distributed over the remaining life expectancy of your designated beneficiary(ies). If a beneficiary other than an individual or qualified trust as defined in the Regulations is named, you will be treated as having no designated beneficiary of your IRA XXX for purposes of determining the distribution period. If there is no designated beneficiary of your IRAXXX, the entire IRA XXX must be distributed by the December 31st of the year containing the fifth anniversary of your death. Your designated beneficiary(ies) must make an election by the December 31st of the year following the year of your death. If no election is made the entire balance of your Account will be distributed over the remaining life expectancy of your designated beneficiary(ies). In such case distributions must commence by the December 31st of the year following the year of your death. If your spouse is the sole beneficiary of your Account, he or she will generally have the following three choices:

Death Distributions. If you die before your required beginning date and you have a designated beneficiary, the balance in your IRA will be distributed to your beneficiary over the beneficiary's single life expectancy. These distributions must commence no later than December 31st of the calendar year following the calendar year of your death. However, if your spouse is your sole beneficiary, these distributions are not required to commence until the December 31st of the calendar year you would have attained the age of 70 1/2, if that date is later than the required commencement date in the previous sentence. If you die before your required beginning date and you do not have a designated beneficiary, the balance in your IRA must be distributed no later than the December 31st of the calendar year that contains the fifth anniversary of your death. If you die on or after your required beginning date distributions must and you have a designated beneficiary, the balance in your IRA will be made distributed to your beneficiary(ies) beneficiary over the longer of the beneficiary's single life expectancy of your designated beneficiary(ies) or your remaining life expectancy, fixed in . These distributions must commence no later than December 31st of the calendar year following the calendar year of your death, and nonrecalculating in subsequent years. If a beneficiary other than an individual you die on or qualified trust as defined in the Regulations is named, after your required beginning date and you will be treated as having no designated beneficiary of your IRA for the purpose of determining the distribution period. If your IRA does do not have a designated beneficiary, distributions will begin utilizing the balance in your IRA must be distributed over a period that does not exceed your remaining single life expectancy, expectancy determined in the year of your death reduced by one each year thereafter. If you die before your However, the required beginning minimum distribution for the calendar year that contains the date the entire amount remaining in your Account will, at the election of your designated beneficiary(ies), either be distributed by the December 31st of the year containing the fifth anniversary of your death or is still required to be distributed over the remaining life expectancy of your designated beneficiary(ies)distributed. If a beneficiary other than an individual or qualified trust Such amount is determined as defined in the Regulations is named, if you will be treated as having no designated beneficiary of your IRA for purposes of determining the distribution period. If there is no designated beneficiary of your IRA, the entire IRA must be distributed by the December 31st of the year containing the fifth anniversary of your death. Your designated beneficiary(ies) must make an election by the December 31st of the year following the year of your death. If no election is made the entire balance of your Account will be distributed over the remaining life expectancy of your designated beneficiary(ies). In such case distributions must commence by the December 31st of the year following the year of your deathwere still alive throughout that year. If your spouse is your sole beneficiary, your spouse may elect to treat your IRA as his or her own IRA, whether you die before or after your required beginning date. If you die after your required beginning date and your spouse elects to treat your IRA as his or her own IRA, any required minimum that has not been distributed for the sole beneficiary year of your Account, he or she will generally have death must still be distributed to your surviving spouse and then the following three choices:remaining balance can be treated as your spouse's own IRA.