Common use of Death of Member Before Distributions Begin Clause in Contracts

Death of Member Before Distributions Begin. If the Member dies before distributions begin, the Member’s entire interest will be distributed, or begin to be distributed, no later than as follows: (a) If the Member’s surviving spouse is the Member’s sole designated beneficiary, then distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Member died, or by December 31 of the calendar year in which the Member would have attained age 70 1/2, if later. (b) If the Member’s surviving spouse is not the Member’s sole designated beneficiary, then distributions to the designated beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Member died. (c) If there is no designated beneficiary as of September 30 of the year following the year of the Member’s death, the Member’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Member’s death. (d) If the Member’s surviving spouse is the Member’s sole designated beneficiary and the surviving spouse dies after the Member but before distributions to the surviving spouse begin, this paragraph (B)(2), other than paragraph (B)(2)(a), will apply as if the surviving spouse were the Member. For purposes of this paragraph (B)(2) and paragraph (D) below, unless paragraph (B)(2)(d) applies, distributions are considered to begin on the Member’s Required Beginning Date. If paragraph (B)(2)(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under paragraph (B)(2)(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Member before the Member’s Required Beginning Date (or to the Member’s surviving spouse before the date distributions are required to begin to the surviving spouse under paragraph (B)(2)(a)), the date distributions are considered to begin is the date distributions actually commence.

Appears in 3 contracts

Samples: Adoption Agreement (Northeast Community Bancorp Inc), Adoption Agreement (Sugar Creek Financial Corp), Adoption Agreement (Newport Bancorp Inc)

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Death of Member Before Distributions Begin. If the Member dies before distributions begin, the Member’s =s entire interest will be distributed, or begin to be distributed, no later than as follows: (a) If the Member’s =s surviving spouse is the Member’s =s sole designated beneficiaryBeneficiary, then distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Member died, or by December 31 of the calendar year in which the Member would have attained age 70 1/2702, if later. (b) If the Member’s =s surviving spouse is not the Member’s =s sole designated beneficiaryBeneficiary, then distributions to the designated beneficiary Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Member died. (c) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Member’s =s death, the Member’s =s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Member’s =s death. (d) If the Member’s =s surviving spouse is the Member’s =s sole designated beneficiary Beneficiary and the surviving spouse dies after the Member but before distributions to the surviving spouse begin, this paragraph (B)(2), other than paragraph (B)(2)(a), will apply as if the surviving spouse were the Member. For purposes of this paragraph (B)(2) and paragraph (D) below, unless paragraph (B)(2)(d) applies, distributions are considered to begin on the Member’s =s Required Beginning Date. If paragraph (B)(2)(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under paragraph (B)(2)(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Member before the Member’s =s Required Beginning Date (or to the Member’s =s surviving spouse before the date distributions are required to begin to the surviving spouse under paragraph (B)(2)(a)), the date distributions are considered to begin is the date distributions actually commence.

Appears in 2 contracts

Samples: Adoption Agreement (Sugar Creek Financial Corp./Md/), Adoption Agreement (Cape Bancorp, Inc.)

Death of Member Before Distributions Begin. If the Member dies before distributions begin, the Member’s entire interest will be distributed, or begin to be distributed, no later than as follows: (ai) If the Member’s surviving spouse is the Member’s sole designated beneficiaryDesignated Beneficiary, then then, except as provided in Subsection 14.6, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Member died, or by December 31 of the calendar year in which the Member would have attained age 70 1/2, if later. (bii) If the Member’s surviving spouse is not the Member’s sole designated beneficiaryDesignated Beneficiary, then then, except as provided in Subsection 14.6, distributions to the designated beneficiary Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Member died. (ciii) If there is no designated beneficiary Designated Beneficiary as of September 30 of the year following the year of the Member’s death, the Member’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Member’s death. (div) If the Member’s surviving spouse is the Member’s sole designated beneficiary Designated Beneficiary and the surviving spouse dies after the Member but before distributions to the surviving spouse begin, this paragraph (B)(2Subsection 14.2(b), other than paragraph (B)(2)(aSubsection 14.2(b)(i), will apply as if the surviving spouse were the Member. For purposes of this paragraph (B)(2Subsection 14.2(b) and paragraph (D) belowSubsection 14.4, unless paragraph (B)(2)(dSubsection 14.2(b)(iv) applies, distributions are considered to begin on the Member’s Required Beginning Date. If paragraph (B)(2)(dSubsection 14.2(b)(iv) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under paragraph (B)(2)(aSubsection 14.2(b)(i). If distributions under an annuity purchased from an insurance company irrevocably commence to the Member before the Member’s Required Beginning Date (or to the Member’s surviving spouse before the date distributions are required to begin to the surviving spouse under paragraph (B)(2)(aSubsection 14.2(b)(i)), the date distributions are considered to begin is the date distributions actually commence.

Appears in 1 contract

Samples: Trust Agreement (Royal Dutch Shell PLC)

Death of Member Before Distributions Begin. If the Member dies before distributions begin, the Member’s entire interest will shall be distributed, or begin to be distributed, no later than as follows: (a) If the Member’s surviving spouse Spouse is the Member’s sole designated beneficiaryDesignated Beneficiary, then then, except as provided in the Plan, distributions to the surviving spouse will Spouse shall begin by December 31 of the calendar year immediately following the calendar year in which the Member died, or by December 31 of the calendar year in which the Member would have attained age 70 1/270½, if later. (b) If the Member’s surviving spouse Spouse is not the Member’s sole designated beneficiaryDesignated Beneficiary, then then, except as provided in the Plan, distributions to the designated beneficiary will Designated Beneficiary shall begin by December 31 of the calendar year immediately following the calendar year in which the Member died. (c) If there is no designated beneficiary Designated Beneficiary as of September 30 of the year following the year of the Member’s death, the Member’s entire interest will shall be distributed by December 31 of the calendar year containing the fifth anniversary of the Member’s death. (d) If the Member’s surviving spouse Spouse is the Member’s sole designated beneficiary Designated Beneficiary and the surviving spouse Spouse dies after the Member but before distributions to the surviving spouse Spouse begin, this paragraph (B)(2)Section C.2, other than paragraph Section C.2.2 (B)(2)(aa), will shall apply as if the surviving spouse Spouse were the Member. For purposes of this paragraph (B)(2) Section C.2 and paragraph (D) below, unless paragraph (B)(2)(d) appliesSection C.5, distributions are considered to begin on the Member’s Required Beginning Date. If paragraph Date (B)(2)(dor, if Section C.2.2 (d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse Spouse under paragraph Section C.2.2 (B)(2)(aa)). If distributions under an annuity purchased from an insurance company payments irrevocably commence to the Member before the Member’s Required Beginning Date (or to the Member’s surviving spouse Spouse before the date distributions are required to begin to the surviving spouse Spouse under paragraph (B)(2)(aSection C.2.2(a)), the date distributions are considered to begin is the date distributions actually commence.

Appears in 1 contract

Samples: Retirement Plan

Death of Member Before Distributions Begin. If the Member dies before distributions begin, the Member’s entire interest will be distributed, or begin to be distributed, no later than as follows: (a) If the Member’s surviving spouse is the Member’s sole designated beneficiaryBeneficiary, then distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Member died, or by December 31 of the calendar year in which the Member would have attained age 70 1/2, if later. (b) If the Member’s surviving spouse is not the Member’s sole designated beneficiaryBeneficiary, then distributions to the designated beneficiary Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Member died. (c) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Member’s death, the Member’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Member’s death. (d) If the Member’s surviving spouse is the Member’s sole designated beneficiary Beneficiary and the surviving spouse dies after the Member but before distributions to the surviving spouse begin, this paragraph (B)(2), other than paragraph (B)(2)(a), will apply as if the surviving spouse were the Member. For purposes of this paragraph (B)(2) and paragraph (D) below, unless paragraph (B)(2)(d) applies, distributions are considered to begin on the Member’s Required Beginning Date. If paragraph (B)(2)(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under paragraph (B)(2)(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Member before the Member’s Required Beginning Date (or to the Member’s surviving spouse before the date distributions are required to begin to the surviving spouse under paragraph (B)(2)(a)), the date distributions are considered to begin is the date distributions actually commence.

Appears in 1 contract

Samples: Adoption Agreement (First Savings Financial Group Inc)

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Death of Member Before Distributions Begin. If the Member dies before distributions begin, the Member’s entire interest will be distributed, or begin to be distributed, no later than as follows: (a1) If the Member’s surviving spouse is the Member’s sole designated beneficiaryDesignated Beneficiary, then then, except as provided in subparagraph 6 of this Article 29, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Member died, or by December 31 of the calendar year in which the Member would have attained age 70 1/2, if later. (b2) If the Member’s surviving spouse is not the Member’s sole designated beneficiaryDesignated Beneficiary, then then, except as provided in subparagraph 6 of this Article 29, distributions to the designated beneficiary Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Member died. (c3) If there is no designated beneficiary Designated Beneficiary as of September 30 of the year following the year of the Member’s death, the Member’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Member’s death. (d4) If the Member’s surviving spouse is the Member’s sole designated beneficiary Designated Beneficiary and the surviving spouse dies after the Member but before distributions to the surviving spouse begin, subparagraph 2(b) of this paragraph (B)(2)Article 29, other than paragraph (B)(2)(asubparagraph 2(b)(1), will apply as if the surviving spouse were the Member. For purposes of this paragraph (B)(2subparagraph 2(b) and paragraph (D) below4 of this Article 29, unless paragraph (B)(2)(dsubparagraph 2(b)(4) of this Article 29 applies, distributions are considered to begin on the Member’s Required Beginning Date. If paragraph (B)(2)(dsubparagraph 2(b)(4) of this Article 29 applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under paragraph (B)(2)(a)subparagraph 2(b)(1) of this Article 29. If distributions under an annuity purchased from an insurance company irrevocably commence to the Member before the Member’s Required Beginning Date (or to the Member’s surviving spouse before the date distributions are required to begin to the surviving spouse under paragraph (B)(2)(asubparagraph 2(b)(1)), the date distributions are considered to begin is the date distributions actually commence.

Appears in 1 contract

Samples: Trust Agreement (Royal Dutch Shell PLC)

Death of Member Before Distributions Begin. If the Member dies before distributions begin, the Member’s 's entire interest will be distributed, or begin to be distributed, no later than as follows: (a) If the Member’s 's surviving spouse is the Member’s 's sole designated beneficiary, then distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Member died, or by December 31 of the calendar year in which the Member would have attained age 70 1/2701/2, if later. (b) If the Member’s 's surviving spouse is not the Member’s 's sole designated beneficiary, then distributions to the designated beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Member died. (c) If there is no designated beneficiary as of September 30 of the year following the year of the Member’s 's death, the Member’s 's entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Member’s 's death. (d) If the Member’s 's surviving spouse is the Member’s 's sole designated beneficiary and the surviving spouse dies after the Member but before distributions to the surviving spouse begin, this paragraph (B)(2), other than paragraph (B)(2)(a), will apply as if the surviving spouse were the Member. For purposes of this paragraph (B)(2) and paragraph (D) below, unless paragraph (B)(2)(d) applies, distributions are considered to begin on the Member’s 's Required Beginning Date. If paragraph (B)(2)(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under paragraph (B)(2)(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Member before the Member’s 's Required Beginning Date (or to the Member’s 's surviving spouse before the date distributions are required to begin to the surviving spouse under paragraph (B)(2)(a)), the date distributions are considered to begin is the date distributions actually commence.

Appears in 1 contract

Samples: Adoption Agreement (Atlantic Coast Federal Corp)

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