Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows: (A) If the Participant’s surviving spouse is the Participant’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 Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½, if later. (B) If the Participant’s surviving spouse is not the Participant’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 Participant died. (C) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death. (D) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2), other than Section 8.6(b)(2)(A), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2) and Section 8.6(d), unless Section 8.6(b)(2)(D) applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 4 contracts
Samples: 401(k) Retirement Savings Plan (Lsi Industries Inc), Retirement Plan (Lsi Industries Inc), Retirement Plan (Lsi Industries Inc)
Death of Participant Before Distributions Begin. If the Participant dies before required distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(Aa) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiaryBeneficiary, then, except as provided in the Adoption Agreement, distributions to the surviving spouse Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½, if later.
(Bb) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiaryDesignated Beneficiary, then then, except as provided in the Adoption Agreement, distributions to the designated beneficiary Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(Cc) If there is no designated beneficiary Designated Beneficiary as of the date of the Participant’s death who remains a Beneficiary as of September 30 of the year immediately following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(Dd) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiary Designated Beneficiary and the surviving spouse Spouse dies after the Participant but before distributions to the surviving spouse Spouse begin, this Section 8.6(b)(2)paragraph 7.6, other than Section 8.6(b)(2)(Awith the exception of paragraph 7.6(a), will apply as if the surviving spouse Spouse were the Participant. For purposes of this Section 8.6(b)(2) paragraph and Section 8.6(d)paragraphs 7.10 and 7.11, unless Section 8.6(b)(2)(Dsubparagraph 7.6(d) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(Dsubparagraph 7.6(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(Aparagraph 7.6(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (Required Beginning Date [or to the Participant’s surviving spouse Spouse before the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(Aparagraph 7.6(a))], the date distributions are considered to begin is the date distributions actually commence.
Appears in 4 contracts
Samples: Defined Contribution Plan, Defined Contribution Plan (1st Constitution Bancorp), Defined Contribution Plan (Wellesley Bancorp, Inc.)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(Aa) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiaryBeneficiary, then, except as provided in the Adoption Agreement, distributions to the surviving spouse Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 1/2, if later.
(Bb) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiaryBeneficiary, then then, except as provided in the Adoption Agreement, distributions to the designated beneficiary Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(Cc) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(Dd) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse Spouse dies after the Participant but before distributions to the surviving spouse Spouse begin, this Section 8.6(b)(2)paragraph 17.7, other than Section 8.6(b)(2)(Aparagraph 17.7(a), will apply as if the surviving spouse Spouse were the Participant. For purposes of this Section 8.6(b)(2) paragraph and Section 8.6(d)paragraphs 17.11 and 17.12, unless Section 8.6(b)(2)(Dparagraph 17.7(d) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(Dparagraph 17.7(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(Aparagraph 17.7(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (Required Beginning Date [or to the Participant’s surviving spouse Spouse before the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(Aparagraph 17.7(a))], the date distributions are considered to begin is the date distributions actually commence.
Appears in 4 contracts
Samples: Defined Contribution Plan (Chicopee Bancorp, Inc.), Defined Contribution Plan (Idt Corp), Defined Contribution Plan (Georgetown Bancorp, Inc.)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(Aa) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary, then, except as provided in Article VI, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 1/2, if later.
(Bb) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiary, then then, except as provided in Section 2.3 of this amendment, distributions to the designated beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(Cc) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(Dd) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2)6.2.2, other than Section 8.6(b)(2)(A6.2.2(a), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2) 6.2.2 and Section 8.6(d)2.3, unless Section 8.6(b)(2)(D6.2.2(d) applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(D6.2.2(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A6.2.2(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A6.2.2(a)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 3 contracts
Samples: 401(k) Plan Adoption Agreement (Americas Carmart Inc), 401(k) Plan Adoption Agreement (Americas Carmart Inc), Adoption Agreement (LSB Bancshares Inc /Nc/)
Death of Participant Before Distributions Begin. If the Participant participant dies before distributions begin, the Participantparticipant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A) If the Participantparticipant’s surviving spouse is the Participantparticipant’s sole designated beneficiary, then, except as provided in the adoption agreement, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant participant died, or by December 31 of the calendar year in which the Participant participant would have attained age 70½, if later.
(B) If the Participantparticipant’s surviving spouse is not the Participantparticipant’s sole designated beneficiary, then then, except as provided in the adoption agreement, distributions to the designated beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant participant died.
(C) If there is no designated beneficiary as of September 30 of the year following the year of the Participantparticipant’s death, the Participantparticipant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participantparticipant’s death.
(D) If the Participantparticipant’s surviving spouse is the Participantparticipant’s sole designated beneficiary and the surviving spouse dies after the Participant participant but before distributions to the surviving spouse are required to begin, this Section 8.6(b)(210.07(b)(2), other than Section 8.6(b)(2)(ASection10.07(b)(2)(A), will apply as if the surviving spouse were the Participantparticipant. For purposes of this Section 8.6(b)(210.07(b)(2) and Section 8.6(d10.07(d), unless Section 8.6(b)(2)(D10.07(b)(2)(D) applies, distributions are considered to begin on the Participantparticipant’s required beginning date. If Section 8.6(b)(2)(D10.07(b)(2)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A10.07(b)(2)(A). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant participant before the Participantparticipant’s required beginning date (or to the Participantparticipant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A)10.07(b)(2)(A), the date distributions are considered to begin is the date distributions actually commence.
Appears in 3 contracts
Samples: Individual 401(k) Plan Purchase Agreement, Employer Sponsored Plan Account Agreement, Employer Sponsored Plan Account Agreement
Death of Participant Before Distributions Begin. If the Participant dies before required distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(Aa) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiaryBeneficiary, then, except as provided in the Adoption Agreement, distributions to the surviving spouse Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 1/2, if later.
(Bb) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiaryDesignated Beneficiary, then then, except as provided in the Adoption Agreement, distributions to the designated beneficiary Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(Cc) If there is no designated beneficiary Designated Beneficiary as of the date of the Participant’s death who remains a Beneficiary as of September 30 of the year immediately following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(Dd) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiary Designated Beneficiary and the surviving spouse Spouse dies after the Participant but before distributions to the surviving spouse Spouse begin, this Section 8.6(b)(2)paragraph 7.6, other than Section 8.6(b)(2)(Awith the exception of paragraph 7.6(a), will apply as if the surviving spouse Spouse were the Participant. For purposes of this Section 8.6(b)(2) paragraph and Section 8.6(d)paragraphs 7.10 and 7.11, unless Section 8.6(b)(2)(Dsubparagraph 7.6(d) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(Dsubparagraph 7.6(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(Aparagraph 7.6(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (Required Beginning Date [or to the Participant’s surviving spouse Spouse before the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(Aparagraph 7.6(a))], the date distributions are considered to begin is the date distributions actually commence.
Appears in 3 contracts
Samples: Defined Contribution Plan (ASB Bancorp Inc), Defined Contribution Plan (Fraternity Community Bancorp Inc), Defined Contribution Plan (Old Dominion Freight Line Inc/Va)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(Aa) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary, then, then distributions to the surviving spouse will begin by the later of December 31 of the calendar year immediately following the calendar year in which the Participant died, died or by December 31 of the calendar year in which the Participant would have attained age 70½, if later.70½.
(Bb) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiary, then then, distributions to the designated beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(Cc) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(Dd) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2)section A-2.2, other than Section 8.6(b)(2)(Asection A-2.2(a), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2) section A-2.2 and Section 8.6(d)section A-4, unless Section 8.6(b)(2)(Dsection A-2.2(d) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(Dsection A-2.2(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection A-2.2(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date Required Beginning Date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection A-2.2(a)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 3 contracts
Samples: Retirement and Savings Plan (Host Marriott Corp/), Retirement and Savings Plan (Host Marriott Corp/), Retirement and Savings Plan (Host Marriott L P)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire vested interest will be distributed, or begin to be distributed, no later than as follows:
(A1) If the Participant’s surviving spouse Spouse is the Participant’s sole “designated beneficiary, ,” then, distributions except as otherwise elected under Subsection 12.05(b), minimum distributions, as described in Section 13.03, will begin to the surviving spouse will begin Spouse by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 1⁄2, if later.
(B2) If the Participant’s surviving spouse Spouse is not the Participant’s sole “designated beneficiary,” then, then distributions except as otherwise elected under Subsection 12.05(b), minimum distributions, as described in Section 13.03, will begin to the “designated beneficiary will begin beneficiary” by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(C3) If there is no “designated beneficiary beneficiary” as of September 30 of the year following the year of the Participant’s death, the Participant’s entire vested interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D4) If the Participant’s surviving spouse Spouse is the Participant’s sole “designated beneficiary beneficiary” and the surviving spouse Spouse dies after the Participant but before distributions to the surviving spouse Spouse begin, this Section 8.6(b)(2Subsection 12.05(a), other than Section 8.6(b)(2)(ASubsection 12.05(a)(1), will apply as if the surviving spouse Spouse were the Participant. For purposes of this Section 8.6(b)(2) and Section 8.6(dSubsection 12.05(a), unless Section 8.6(b)(2)(DSubsection 12.05(a)(4) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(DSubsection 12.05(a)(4) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(ASubsection 12.05(a)(1). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date Required Beginning Date (or to the Participant’s surviving spouse Spouse before the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(ASubsection 12.05(a)(1)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 3 contracts
Samples: Defined Contribution Plan (Profit Sharing/401(k) Plan) (Alcoa Inc.), Defined Contribution Plan (Profit Sharing/401(k) Plan) (Alcoa Inc.), Defined Contribution Plan (Profit Sharing/401(k) Plan) (Alcoa Inc.)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(Aa) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary, then, then distributions to the surviving spouse will begin by the later of December 31 of the calendar year immediately following the calendar year in which the Participant died, died or by December 31 of the calendar year in which the Participant would have attained age 70½, if later70 1/2.
(Bb) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiary, then then, distributions to the designated beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(Cc) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(Dd) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2)section A-2.2, other than Section 8.6(b)(2)(Asection A-2.2(a), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2) section A-2.2 and Section 8.6(d)section A-4, unless Section 8.6(b)(2)(Dsection A-2.2(d) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(Dsection A-2.2(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection A-2.2(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date Required Beginning Date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection A-2.2(a)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 2 contracts
Samples: Retirement and Savings Plan (Host Hotels & Resorts L.P.), Retirement and Savings Plan (Host Hotels & Resorts, Inc.)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A) If the Participant’s 's surviving spouse is the Participant’s sole designated beneficiaryDesignated Beneficiary, then, except as provided in section 6.2(b)(ii)(E) below, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½, if later.
(B) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryDesignated Beneficiary, then then, except as provided in section 6.2(b)(ii)(E), distributions to the designated beneficiary Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(C) If there is no designated beneficiary Designated Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s 's death.
(D) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary Designated Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2section 6.2(b)(ii), other than Section 8.6(b)(2)(Asection 6.2(b)(ii)(A), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2section 6.2(b)(ii) and Section 8.6(dsection 6.2(d), unless Section 8.6(b)(2)(D) appliessection 6.2(b)(ii)(D)applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(D) appliessection 6.2(b)(ii)(D)applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection 6.2(b)(ii)(A). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date Required Beginning Date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection 6.2(b)(ii)(A)), the date distributions are considered to begin is the date distributions actually commence.
(E) Notwithstanding sections 6.2(b)(ii) and 6.2(d)(ii), Participants or beneficiaries may elect on an individual basis whether the 5-year rule or the life expectancy rule in sections 6.2(b)(ii) and 6.2(d)(ii) of the plan applies to distributions after the death of a Participant who has a designated beneficiary. The election must be made no later than the earlier of September 30 of the calendar year in which distribution would be required to begin under section 6.2(b)(ii) of the plan, or by September 30 of the calendar year which contains the fifth anniversary of the Participant’s (or, if applicable, surviving spouse’s) death. If neither the participant nor beneficiary makes an election under this paragraph, distributions will be made in accordance with sections 6.2(b)(ii) and 6.2(d)(ii)of the plan and, if applicable, the elections in section 6.2(b) above.
Appears in 2 contracts
Samples: 403(b) Plan Account Application, 403(b) Plan Account Establishment
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryDesignated Beneficiary, then, except as provided in section below, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 ½, if later.
(B) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryDesignated Beneficiary, then then, except as provided below, distributions to the designated beneficiary Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(C) If there is no designated beneficiary Designated Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary Designated Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2section 5.6 (b)(ii), other than Section 8.6(b)(2)(Asection 5.6(b)(ii)(A), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2sections 5.6(b)(ii) and Section 8.6(dsection 5.6(d), unless Section 8.6(b)(2)(Dsection 5.6(b)(ii)(D) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(Dsection 5.6(b)(ii)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection 5.6(b)(ii)(A).
(E) Notwithstanding sections 5.6(b)(ii) and 5.6(d)(ii), Participants or beneficiaries may elect on an individual basis whether the 5- year rule or the life expectancy rule in sections 5.6(b)(ii) and 5.6(d)(ii) applies to distributions after the death of a Participant who has a designated beneficiary. If distributions The election must be made no later than the earlier of September 30 of the calendar year in which distribution would be required to begin under an annuity purchased from an insurance company irrevocably commence to section 5.6(b)(ii), or by September 30 of the Participant before calendar year which contains the fifth anniversary of the Participant’s required beginning date (or to or, if applicable, surviving spouse’s) death. If neither the Participant’s surviving spouse before the date Participant nor beneficiary makes an election under this paragraph, distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A))will be made in accordance with sections 5.6(b)(ii) and 5.6(d)(ii) and, if applicable, the date distributions are considered to begin is the date distributions actually commenceelections in section 5.6(b) above.
Appears in 2 contracts
Samples: Custodial Account Agreement, 403(b)(7) and Roth 403(b)(7) Custodial Account Agreement
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryDesignated Beneficiary, then, except as provided in section below, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 ½, if later.
(B) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryDesignated Beneficiary, then then, except as provided below, distributions to the designated beneficiary Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(C) If there is no designated beneficiary Designated Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary Designated Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2section 5.6 (b)(ii), other than Section 8.6(b)(2)(Asection 5.6(b)(ii)(A), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2sections 5.6(b)(ii) and Section 8.6(dsection 5.6(d), unless Section 8.6(b)(2)(Dsection 5.6(b)(ii)(D) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(Dsection 5.6(b)(ii)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection 5.6(b)(ii)(A).
(E) Notwithstanding sections 5.6(b)(ii) and 5.6(d)(ii), Participants or beneficiaries may elect on an individual basis whether the 5-year rule or the life expectancy rule in sections 5.6(b)(ii) and 5.6(d)(ii) of the plan applies to distributions after the death of a Participant who has a designated beneficiary. If distributions The election must be made no later than the earlier of September 30 of the calendar year in which distribution would be required to begin under an annuity purchased from an insurance company irrevocably commence to section 5.6(b)(ii) of the Participant before plan, or by September 30 of the calendar year which contains the fifth anniversary of the Participant’s required beginning date (or to or, if applicable, surviving spouse’s) death. If neither the Participant’s surviving spouse before Participant nor Beneficiary makes an election under this paragraph, distributions will be made in accordance with sections 5.6(b)(ii) and 5.6(d)(ii) of the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A))plan and, if applicable, the date distributions are considered to begin is the date distributions actually commenceelections in section 5.6(b) above.
Appears in 2 contracts
Samples: Custodial Account Agreement, Custodial Account Agreement
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiary, then, unless the Beneficiary makes an election pursuant to subsection (E) below, distributions to the surviving spouse Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 1/2, if later.
(B) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiary, then distributions then, unless the Beneficiary makes an election pursuant to subsection (E) below, the Participant’s entire interest will be distributed to the designated beneficiary will begin by December 31 of the calendar year immediately following containing the calendar year in which fifth anniversary of the Participant diedParticipant’s death.
(C) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiary and the surviving spouse Spouse dies after the Participant but before distributions to the surviving spouse Spouse begin, this Section 8.6(b)(212.05(b)(2), other than Section 8.6(b)(2)(A12.05(b)(2)(A), will apply as if the surviving spouse Spouse were the Participant.
(E) Notwithstanding the provisions of subsections (A) and (B) above, Beneficiaries may elect on an individual basis whether the life expectancy rule or the 5-year rule in subsections (A) or (B) above applies to distributions after the death of a Participant. The election must be made no later than the earlier of September 30 of the calendar year in which distribution would be required to begin under subsections (A) or (B) above, or by September 30 of the calendar year which contains the fifth anniversary of the Participant’s (or, if applicable, surviving Spouse’s) death. If the Beneficiary does not make an election under this subsection (E), distributions will be made in accordance with subsections (A) or (B) above, whichever is applicable. For purposes of this Section 8.6(b)(212.05(b)(2) and Section 8.6(d12.05(d), unless Section 8.6(b)(2)(D12.05(b)(2)(D) applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(D12.05(b)(2)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(A12.05(b)(2)(A). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse Spouse before the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(A12.05(b)(2)(A)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 2 contracts
Samples: 401(k) Plan (Pepsiamericas Inc/Il/), Salaried 401(k) Plan (Pepsiamericas Inc/Il/)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s 's entire interest will be distributed, or begin to be distributed, no later than as follows:
(Aa) If the Participant’s 's surviving spouse is the Participant’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 Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 1/2, if later.
(Bb) If the Participant’s 's surviving spouse is not the Participant’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 Participant died.
(Cc) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s 's death, the Participant’s 's entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s 's death.
(Dd) If the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2)section 2.2, other than Section 8.6(b)(2)(Asection 2.2(a), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2) section 2.2 and Section 8.6(d)section 4, unless Section 8.6(b)(2)(Dsection 2.2(d) applies, distributions are considered to begin on the Participant’s 's required beginning date. If Section 8.6(b)(2)(Dsection 2.2(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection 2.2(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s 's required beginning date (or to the Participant’s 's surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection 2.2(a)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Employee Stock Ownership Plan Amendment (Sanderson Farms Inc)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(Aa) If the Participant’s surviving spouse is the Participant’s sole “designated beneficiary”, then, except as provided in Section VI of this Amendment, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½701/2, if later.
(Bb) If the Participant’s surviving spouse is not the Participant’s sole “designated beneficiary”, then then, except as provided in Section VI of this Amendment, distributions to the “designated beneficiary beneficiary” will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(Cc) If there is no “designated beneficiary beneficiary” as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(Dd) If the Participant’s surviving spouse is the Participant’s sole “designated beneficiary beneficiary” and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2)3.2, other than Section 8.6(b)(2)(A3.2(a), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2) 3.2 and Section 8.6(d)V, unless Section 8.6(b)(2)(D3.2(d) applies, distributions are considered to begin on the Participant’s “required beginning date”. If Section 8.6(b)(2)(D3.2(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A3.2(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s “required beginning date date” (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A3.2(a)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Trust Agreement (Nordson Corp)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s 's entire interest will be distributed, or begin to be distributed, no later than as follows:
(Aa) If the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiaryBeneficiary, then, except as otherwise elected under section 6, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 1/2, if later.
(Bb) If the Participant’s 's surviving spouse is not the Participant’s 's sole designated beneficiaryBeneficiary, then then, except as otherwise elected under section 6, distributions to the designated beneficiary Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(Cc) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s 's death, the Participant’s 's entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s 's death.
(Dd) If the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiary Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2)section 2.2, other than Section 8.6(b)(2)(Asection 2.2(a), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2) section 2.2 and Section 8.6(d)section 4, unless Section 8.6(b)(2)(Dsection 2.2(d) applies, distributions are considered to begin on the Participant’s required beginning date's Required Beginning Date. If Section 8.6(b)(2)(Dsection 2.2(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection 2.2(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date 's Required Beginning Date (or to the Participant’s 's surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection 2.2(a)), the date distributions are considered to -to begin is the date distributions actually commence.
Appears in 1 contract
Death of Participant Before Distributions Begin. If the Participant dies before required distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(Aa) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiaryBeneficiary, then, except as provided in the Adoption Agreement, distributions to the surviving spouse Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½701/2, if later.
(Bb) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiaryDesignated Beneficiary, then then, except as provided in the Adoption Agreement, distributions to the designated beneficiary Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(Cc) If there is no designated beneficiary Designated Beneficiary as of the date of the Participant’s death who remains a Beneficiary as of September 30 of the year immediately following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(Dd) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiary Designated Beneficiary and the surviving spouse Spouse dies after the Participant but before distributions to the surviving spouse Spouse begin, this Section 8.6(b)(2)paragraph 7.6, other than Section 8.6(b)(2)(Awith the exception of paragraph 7.6(a), will apply as if the surviving spouse Spouse were the Participant. For purposes of this Section 8.6(b)(2) paragraph and Section 8.6(d)paragraphs 7.10 and 7.11, unless Section 8.6(b)(2)(Dsubparagraph 7.6(d) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(Dsubparagraph 7.6(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(Aparagraph 7.6(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (Required Beginning Date [or to the Participant’s surviving spouse Spouse before the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(Aparagraph 7.6(a))], the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(Ai.) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryBeneficiary, then, except as provided in the Agreement, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant dieddies, or by December 31 of the calendar year in which the Participant would have attained age 70½, if later.
(Bii.) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryBeneficiary, then then, except as provided in the Agreement, distributions to the designated beneficiary Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant dieddies.
(Ciii.) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(Div.) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2paragraph 6.4(c), other than Section 8.6(b)(2)(Aparagraph 6.4(c)(i), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2paragraph 6.4(c) and Section 8.6(dparagraphs 6.4(f) and 6.4(g), unless Section 8.6(b)(2)(Dparagraph 6.4(c)(iv) above applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(Dparagraph 6.4(c)(iv) above applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A)subparagraph (i) above. If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A))subparagraph (i) above, the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s 's entire interest will be distributed, or begin to be distributed, no later than as follows:
(A1) If the Participant’s 's surviving spouse Spouse is the Participant’s 's sole designated beneficiaryBeneficiary, then, distributions to the surviving spouse Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70-1/2, if later.
(B2) If the Participant’s 's surviving spouse Spouse is not the Participant’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 Participant died.
(C3) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s 's death, the Participant’s 's entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s 's death.
(D4) If the Participant’s 's surviving spouse Spouse is the Participant’s 's sole designated beneficiary Beneficiary and the surviving spouse Spouse dies after the Participant but before distributions to the surviving spouse Spouse begin, this Section 8.6(b)(2Subsection (b), other than Section 8.6(b)(2)(AParagraph (b)(l), will apply as if the surviving spouse Spouse were the Participant. For purposes of this Section 8.6(b)(2Subsection 17.02(b) and Section 8.6(d)17.04, unless Section 8.6(b)(2)(DParagraph 17.02(b)(4) applies, distributions are considered to begin on the Participant’s 's required beginning date. If Section 8.6(b)(2)(DParagraph 17.02(b)(4) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(AParagraph 17.02(b)(1). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s 's required beginning date (or to the Participant’s 's surviving spouse Spouse before the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(AParagraph 17.02(b)(l)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: 401(k) Plan (Integra Bank Corp)
Death of Participant Before Distributions Begin. If the Participant dies before the distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(Ai) If the Participant’s surviving spouse is the Participant’s sole designated beneficiarydes- ignated Beneficiary, then, except as otherwise elected under Section 9.1(f), distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½, if later.
(Bii) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryBeneficiary, then then, except as otherwise elected under Section 9.1(f), distributions to the designated beneficiary Beneficiary will begin by December 31 of the calendar year immediately following follow- ing the calendar year in which the Participant died.
(Ciii) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(Div) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(29.1(b)(2), other than Section 8.6(b)(2)(A9.1(b)(2)(i), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(29.1(b)(2) and Section 8.6(d9.1(d), unless Section 8.6(b)(2)(D9.1(b)(2)(iv) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(D9.1(b)(2)(iv) applies, distributions are considered to begin on the date distributions distribu- tions are required to begin to the surviving spouse under Section 8.6(b)(2)(A9.1(b)(2)(i). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date Required Beginning Date (or to the Participant’s surviving sur- viving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A9.1(b)(2)(i)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Retirement Plan Agreement
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s 's entire interest will shall be distributed, or begin to be distributed, no later than as follows:
(A) If the Participant’s 's surviving spouse Spouse is the Participant’s 's sole designated beneficiaryDesignated Beneficiary, then, except as otherwise provided in Subsection 10.5(b)(2), distributions to the surviving spouse will Spouse shall begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70-1/2, if later.
(B) If the Participant’s 's surviving spouse Spouse is not the Participant’s 's sole designated beneficiaryDesignated Beneficiary, then then, except as otherwise provided in Subsection 10.5(b)(2), 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 Participant died.
(C) If there is no designated beneficiary Designated Beneficiary as of September 30 of the year following the year of the Participant’s 's death, the Participant’s 's entire interest will shall be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s 's death.
(D) If the Participant’s 's surviving spouse Spouse is the Participant’s 's sole designated beneficiary Designated Beneficiary and the surviving spouse Spouse dies after the Participant but before distributions to the surviving spouse Spouse begin, this Section 8.6(b)(2Subsection 10.7(e)(ii) other than Subsection (e)(ii)(A), other than Section 8.6(b)(2)(A), will shall apply as if the surviving spouse Spouse were the Participant. For purposes of this Section 8.6(b)(2Subsections (e)(ii) and Section 8.6(d10.7(g), unless Section 8.6(b)(2)(DSubsection 10.7(e)(ii)(D) applies, distributions are considered to begin on the Participant’s required beginning date's Required Beginning Date. If Section 8.6(b)(2)(DSubsection 10.7(e)(ii)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(ASubsection 10.7(e)(ii)(A). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date 's Required Beginning Date (or to the Participant’s 's surviving spouse Spouse before the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(A)Subsection 10.7(e)(ii)(A), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Fund Office Retirement Profit Sharing Plan and Trust (Chestnut Street Exchange Fund)
Death of Participant Before Distributions Begin. If the Participant dies before distributions beginbegin (as defined below), then the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(Ai) If the Participant’s surviving spouse is the Participant’s sole designated beneficiarybeneficiary (as defined below), then, then distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 1/2, if later.
(Bii) If the Participant’s surviving spouse is not the Participant’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 Participant died.
(Ciii) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, then the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(Div) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, then this Section 8.6(b)(2section 8.6(a)(2)(B), other than Section 8.6(b)(2)(Asection 8.6(a)(2)(B)(i), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2section 8.6(a)(2)(B) and Section 8.6(d)section 8.6(a)(4) below, unless Section 8.6(b)(2)(Dsection 8.6(a)(2)(B)(iv) applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(Dsection 8.6(a)(2)(B)(iv) applies, then distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection 8.6(a)(2)(B)(i). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection 8.6(a)(2)(B)(i)), then the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryDesignated Beneficiary, then, then distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½701⁄2, if later.
(B) If the Participant’s surviving spouse is not the Participant’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 Participant dieddied or, alternatively, all of the Participant’s Accounts will be distributed in one of a combination of the form of payments specified in Section 11.3(a) and/or, in the case of a distribution made after December 31, 2006, pursuant to Section 1.16 (i.e., a Direct Rollover to a traditional inherited individual retirement account, as defined in Code Section 408(d)(3)(C)), by December 31 of the calendar year containing the fifth anniversary of the Participant’s date of death.
(C) If there is no designated beneficiary Designated Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary Designated Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2Subsection 11.9(b), other than Section 8.6(b)(2)(ASubsection 11.9(b)(ii)(A), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2Subsection 11.9(b) and Section 8.6(dSubsection 11.9(d), unless Section 8.6(b)(2)(DSubsection 11.9(b)(ii)(D) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(DSubsection 11.9(b)(ii)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(ASubsection 11.9(b)(ii)(A). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: 401(k) Plan and Trust Agreement (Leggett & Platt Inc)
Death of Participant Before Distributions Begin. If the Participant Member dies before distributions begin, the Participant’s Member's entire interest will be distributed, or begin to be distributed, no later than as follows:
(Ai) If the Participant’s Member's surviving spouse is the Participant’s Member's sole designated beneficiaryDesignated Beneficiary, then, then distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant Member died, or by December 31 of the calendar year in which the Participant Member would have attained age 70½70 1/2, if later.
(Bii) If the Participant’s Member's surviving spouse is not the Participant’s Member's sole designated beneficiaryDesignated Beneficiary, then distributions to the designated beneficiary Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant Member died.
(Ciii) If there is no designated beneficiary Designated Beneficiary as of September 30 of the year following the year of the Participant’s Member's death, the Participant’s Member's entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s Member's death.
(Div) If the Participant’s Member's surviving spouse is the Participant’s Member's sole designated beneficiary Designated Beneficiary and the surviving spouse dies after the Participant Member but before distributions to the surviving spouse begin, this Section 8.6(b)(217.2(b)(iv), other than Section 8.6(b)(2)(A17.2(b)(i), will apply as if the surviving spouse were the ParticipantMember. For purposes of this Section 8.6(b)(217.2(b) and Section 8.6(d)17.4, unless Section 8.6(b)(2)(D17.2(b)(iv) applies, distributions are considered to begin on the Participant’s required beginning dateMember's Required Beginning Date. If Section 8.6(b)(2)(D17.2(b)(iv) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A17.2(b)(i). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant Member before the Participant’s required beginning date Member's Required Beginning Date (or to the Participant’s Member's surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A17.2(b)(i)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: First Amendment to Eog Resources, Inc. Savings Plan (Eog Resources Inc)
Death of Participant Before Distributions Begin. If the Participant dies before required distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(Aa) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiaryDesignated Beneficiary, then, except as provided in the Adoption Agreement, distributions to the surviving spouse Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½701/2, if later.
(Bb) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiaryDesignated Beneficiary, then then, except as provided in the Adoption Agreement, distributions to the designated beneficiary Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(Cc) If there is no designated beneficiary Designated Beneficiary as of the date of the Participant’s death who remains a Beneficiary as of September 30 of the year immediately following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(Dd) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiary Designated Beneficiary and the surviving spouse Spouse dies after the Participant but before distributions to the surviving spouse Spouse begin, this Section 8.6(b)(2)paragraph 7.6, other than Section 8.6(b)(2)(Awith the exception of paragraph 7.6(a), will apply as if the surviving spouse Spouse were the Participant. For purposes of this Section 8.6(b)(2) paragraph and Section 8.6(d)paragraphs 7.10 and 7.11, unless Section 8.6(b)(2)(Dsubparagraph 7.6(d) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(Dsubparagraph 7.6(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(Aparagraph 7.6(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (Required Beginning Date [or to the Participant’s surviving spouse Spouse before the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(Aparagraph 7.6(a))], the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Savings and Investment Plan Document (Sterling Chemicals Inc)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A1) If the Participant’s surviving spouse is the Participant’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 Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½, if later.
(B2) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryBeneficiary, then then, distributions to the designated beneficiary Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(C3) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D4) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2Subsection (ii), other than Section 8.6(b)(2)(ASubsection (ii)(1), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2Subsection (b) and Section 8.6(dSubsection (d), unless Section 8.6(b)(2)(DSubsection (ii)(4) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(DSubsection (ii)(4) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(ASubsection (ii)(4). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date Required Beginning Date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A(ii)(4)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Employee Stock Ownership Plan and Trust Agreement (Bancfirst Corp /Ok/)
Death of Participant Before Distributions Begin. If the Participant dies before distributions beginthe Benefit Commencement Date, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A1) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryBeneficiary, then, then distributions to the surviving spouse will begin by the later of (a) December 31 of the calendar year immediately following the calendar year in which the Participant died, or by (b) December 31 of the calendar year in which the Participant would have attained age 70½70½. Unless the Participant’s remaining interest is distributed in a lump sum by such date, the distribution will be made, if laterpermitted, in the form of an annuity purchased from 105 ADDED – Amendment L, December 17, 2003, retroactively effective January 1, 2003, Article V, Section 7 is 1993 Restated Trust Agreement (Inclusive of Amendments I through XCV) an insurance company and distributions thereunder will be made in accordance with the requirements of Section 401(a)(9) of the Code and the Treasury regulations.
(B2) If the Participant’s surviving spouse is not the Participant’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 Participant died.
(C) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s deathIn all other cases, the Participant’s entire interest will be distributed in a lump sum by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D3) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2), other than Section 8.6(b)(2)(A), the entire interest will apply as if be distributed in a lump sum by December 31 of the surviving spouse were calendar year containing the Participant. For purposes fifth anniversary of this Section 8.6(b)(2the spouse’s death.
(4) and Section 8.6(d), unless Section 8.6(b)(2)(D) applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before is the date distributions are Participant’s sole designated Beneficiary, the spouse may elect on an individual basis whether to apply the life expectancy rule in
(1) above or the 5-year rule in (2) above. The election must be made no later than the earlier of September 30 of the calendar year in which distribution would be required to begin under (1) above, or by September 30 of the calendar year which contains the fifth anniversary of the participant’s (or, if applicable, surviving spouse’s) death. If the Spouse fails to make an election, distributions will be made in accordance with (1) above.
(5) If the Participant’s Account is divided into two or more separate accounts no later than the last day of the year following the calendar year of the Participant’s death and the Participant’s surviving spouse is the sole designated Beneficiary with respect to one of such separate accounts, then the rules set forth in paragraphs 1, 3 and 4 shall apply with respect to the separate account maintained for the surviving spouse under Section 8.6(b)(2)(A)), the date distributions are considered to begin is the date distributions actually commencespouse.
Appears in 1 contract
Samples: Restated Trust Agreement
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A1) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryBeneficiary, then, except as provided in the Agreement, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant dieddies, or by December 31 of the calendar year in which the Participant would have attained age 70½, if later.
(B2) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryBeneficiary, then then, except as provided in the Agreement, distributions to the designated beneficiary Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant dieddies.
(C3) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D4) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(26.4(c), other than Section 8.6(b)(2)(A6.4(c)(1), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(26.4(c) and Section 8.6(dSections 6.4(f) and 6.4(g), unless Section 8.6(b)(2)(D6.4(c)(4) above applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(D6.4(c)(4) above applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A)subsection (i) above. If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A))subsection (i) above, the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s 's entire interest will be distributed, or begin to be distributed, no later than as follows:
(Aa) If the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiary, then, except as provided in Article VI, distributions to the surviving spouse will begin begun by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½701/2, if later.
(Bb) If the Participant’s 's surviving spouse is not the Participant’s 's sole designated beneficiary, then then, except as provided in Section 2.3 of this amendment, distributions to the designated beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(Cc) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s 's death, the Participant’s 's entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s 's death.
(Dd) If the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2)6.2.2, other than Section 8.6(b)(2)(A6.2.2(a), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2) 6.2.2 and Section 8.6(d)2.3, unless Section 8.6(b)(2)(D6.2.2(d) applies, distributions are considered to begin on the Participant’s 's required beginning date. If Section 8.6(b)(2)(D6.2.2(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A6.2.2(a). If distributions distribution under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s 's required beginning date (or to the Participant’s 's surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A6.2.2(a)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: 401(k) Plan Adoption Agreement (Allegiant Travel CO)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s 's entire interest will be distributed, or begin to be distributed, no later than as follows:
(Aa) If the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiaryBeneficiary, then, except as otherwise elected under section 6, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70-1/2, if later.
(Bb) If the Participant’s 's surviving spouse is not the Participant’s 's sole designated beneficiaryBeneficiary, then then, except as otherwise elected under section 6, distributions to the designated beneficiary Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(Cc) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s 's death, the Participant’s 's entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s 's death.
(Dd) If the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiary Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2)section 2.2, other than Section 8.6(b)(2)(Asection 2.2(a), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2) section 2.2 and Section 8.6(d)section 4, unless Section 8.6(b)(2)(Dsection 2.2(d) applies, distributions are considered to begin on the Participant’s required beginning date's Required Beginning Date. If Section 8.6(b)(2)(Dsection 2.2(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection 2.2(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date 's Required Beginning Date (or to the Participant’s 's surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection 2.2(a)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Retirement Plan Adoption Agreement (Hudson City Bancorp Inc)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A1) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiaryBeneficiary, then, except as provided in Section 16.6 or 16.7, distributions to the surviving spouse Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 1/2, if later.
(B2) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiaryBeneficiary, then then, except as provided in Section 16.6 or 16.7, distributions to the designated beneficiary Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(C3) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D4) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse Spouse dies after the Participant but before distributions to the surviving spouse beginSpouse, this Section 8.6(b)(2)16.2, other than Section 8.6(b)(2)(A16.2(b)(1), will apply as if the surviving spouse Spouse were the Participant. For purposes of this Section 8.6(b)(2) 16.2 and Section 8.6(d)16.4, unless Section 8.6(b)(2)(D16.2(b)(4) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(D16.2(b)(4) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(A16.2(b)(1). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date Required Beginning Date (or to the Participant’s surviving spouse Spouse before the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(A16.2(b)(1)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Retirement Plan (Ametek Inc/)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(Ai) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiary, thenBeneficiary, distributions to the surviving spouse Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70- 1/2, if later.
(Bii) If the Participant’s surviving spouse Spouse is not the Participant’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 Participant died.
(Ciii) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(Div) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse Spouse dies after the Participant but before distributions to the surviving spouse Spouse begin, this Section 8.6(b)(2subsection (f), other than Section 8.6(b)(2)(Asubsection (f)(i), will apply as if the surviving spouse Spouse were the Participant. For purposes of this Section 8.6(b)(2subsection (f) and Section 8.6(dfor purposes of required minimum distributions made after a Participant’s death (subsections (j) and (k) below), unless Section 8.6(b)(2)(Dsubsection (f)(iv) applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(Dsubsection (f)(iv) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(Asubsection (f)(i). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Retirement Savings Plan (PNC Financial Services Group Inc)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryBeneficiary, then, except as provided in subparagraph 8.13(g), distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70-1/2, if later.
(B) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryBeneficiary, then then, except as provided in subparagraph 8.13(g), distributions to the designated beneficiary Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(C) If there is no designated beneficiary Designated Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth (5th) anniversary of the Participant’s death.
(D) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary Designated Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2clause (ii), other than Section 8.6(b)(2)(Aclause (ii)(A), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2clause (ii) of this subparagraph and Section 8.6(dsubparagraph 8.13(e), unless Section 8.6(b)(2)(D) applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(Ddate (or if clause (ii)(D) above applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Aclause (ii)(A) above). If distributions under an annuity purchased from an insurance company payments irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A)clause (ii)(A) above), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Profit Sharing Plan Adoption Agreement (Southern National Bancorp of Virginia Inc)
Death of Participant Before Distributions Begin. If the Participant dies before distributions beginthe Benefit Commencement Date, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A1) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryBeneficiary, then, then distributions to the surviving spouse will begin by the later of (a) December 31 of the calendar year immediately following the calendar year in which the Participant died, or by (b) December 31 of the calendar year in which the Participant would have attained age 70½70½. Unless the Participant’s remaining interest is distributed in a lump sum by such date, the distribution will be made, if laterpermitted, in the form of an annuity purchased from an insurance company and distributions thereunder will be made in accordance with the requirements of Section 401(a)(9) of the Code and the Treasury regulations.
(B2) If the Participant’s surviving spouse is not the Participant’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 Participant died.
(C) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s deathIn all other cases, the Participant’s entire interest will be distributed in a lump sum by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D3) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2), other than Section 8.6(b)(2)(A), the entire interest will apply as if be distributed in a lump sum by December 31 of the surviving spouse were calendar year containing the Participant. For purposes fifth anniversary of this Section 8.6(b)(2the spouse’s death.
(4) and Section 8.6(d), unless Section 8.6(b)(2)(D) applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before is the date distributions are Participant’s sole designated Beneficiary, the spouse may elect on an individual basis whether to apply the life expectancy rule in
(1) above or the 5-year rule in (2) above. The election must be made no later than the earlier of September 30 of the calendar year in which distribution would be required to begin under (1) above, or by September 30 of the calendar year which contains the fifth anniversary of the participant’s (or, if applicable, surviving spouse’s) death. If the Spouse fails to make an election, distributions will be made in accordance with (1) above.
(5) If the Participant’s Account is divided into two or more separate accounts no later than the last day of the year following the calendar year of the Participant’s death and the Participant’s surviving spouse is the sole designated Beneficiary with respect to one of such separate accounts, then the rules set forth in paragraphs 1, 3 and 4 shall apply with respect to the separate account maintained for the surviving spouse under Section 8.6(b)(2)(A)), the date distributions are considered to begin is the date distributions actually commencespouse.
Appears in 1 contract
Samples: Restated Trust Agreement
Death of Participant Before Distributions Begin. If the Participant dies before distributions beginbegin (with a death benefit payable), the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiaryBeneficiary, then, distributions to the surviving spouse Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 1/2, if later.
(B) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiaryBeneficiary, then distributions to the designated beneficiary participant’s entire interest will begin be distributed by December 31 of the calendar year immediately following containing the calendar year in which fifth anniversary of the Participant diedParticipant’s death.
(C) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse Spouse dies after the Participant but before distributions to the surviving spouse Spouse begin, this Section 8.6(b)(2)5.20, other than Section 8.6(b)(2)(A5.20(b)(2)(A), will apply as if the surviving spouse Spouse were the Participant. For purposes of this Section 8.6(b)(2) and Section 8.6(d), unless Section 8.6(b)(2)(D) appliesSection, distributions are considered to begin on the Participant’s required beginning date. If date (or, if Section 8.6(b)(2)(D5.20(b)(2)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(A5.20(b)(2)(A)). If distributions under an annuity purchased from an insurance company payments irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse Spouse before the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(A5.20(b)(2)(A)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Pension Plan
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary, then, unless the Beneficiary makes an election pursuant to subsection (E) below, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 1/2, if later.
(B) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiary, then distributions then, unless the Beneficiary makes an election pursuant to subsection (E) below, the Participant’s entire interest will be distributed to the designated beneficiary will begin by December 31 of the calendar year immediately following containing the calendar year in which fifth anniversary of the Participant diedParticipant’s death.
(C) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(212.05(b)(2), other than Section 8.6(b)(2)(A12.05(b)(2)(A), will apply as if the surviving spouse were the Participant.
(E) Notwithstanding the provisions of subsections (A) and (B) above, Beneficiaries may elect on an individual basis whether the life expectancy rule or the 5-year rule in subsections (A) or (B) above applies to distributions after the death of a Participant. The election must be made no later than the earlier of September 30 of the calendar year in which distribution would be required to begin under subsections (A) or (B) above, or by September 30 of the calendar year which contains the fifth anniversary of the Participant’s (or, if applicable, surviving spouse’s) death. If the Beneficiary does not make an election under this subsection (E), distributions will be made in accordance with subsections (A) or (B) above, whichever is applicable. For purposes of this Section 8.6(b)(212.05(b)(2) and Section 8.6(d12.05(d), unless Section 8.6(b)(2)(D12.05(b)(2)(D) applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(D12.05(b)(2)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A12.05(b)(2)(A). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A12.05(b)(2)(A)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s 's entire interest will be distributed, or begin to be distributed, no later than as follows:
(A) 1. If the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiary, then, then distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 1/2, if later.
(B) 2. If the Participant’s 's surviving spouse is not the Participant’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 Participant died.
(C3. Notwithstanding section 13.02(B)(1) or 13.02(B)(2), if the Participant dies before distributions begin and there is a designated beneficiary, and if elected under section 13.06(A), distribution to the designated beneficiary is not required to begin by the date specified in section 13.02(B)(1) or 13.02(B)(2), but the Participant's entire interest will be distributed to the designated beneficiary by December 31 of the calendar year containing the fifth anniversary of the Participant's death.
4. If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s 's death, the Participant’s 's entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s 's death.
(D) 5. If the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2section 13.02(B), other than Section 8.6(b)(2)(Asection 13.02(B)(1), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2section 13.02(B) and Section 8.6(d)section 13.04, unless Section 8.6(b)(2)(Dsection 13.02(B)(5) applies, distributions are considered to begin on the Participant’s required beginning date's Required Beginning Date. If Section 8.6(b)(2)(Dsection 13.02(B)(5) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection 13.02(B)(1). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date 's Required Beginning Date (or to the Participant’s 's surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection 13.02(B)(1)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Plan Document and Trust Agreement (Stonepath Group Inc)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary, then, unless the Beneficiary makes an election pursuant to subsection (E) below, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 ½, if later.
(B) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiary, then distributions then, unless the Beneficiary makes an election pursuant to subsection (E) below, the Participant’s entire interest will be distributed to the designated beneficiary will begin by December 31 of the calendar year immediately following containing the calendar year in which fifth anniversary of the Participant diedParticipant’s death.
(C) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(212.05(b)(2), other than Section 8.6(b)(2)(A12.05(b)(2)(A), will apply as if the surviving spouse were the Participant.
(E) Notwithstanding the provisions of subsections (A) and (B) above, Beneficiaries may elect on an individual basis whether the life expectancy rule or the 5-year rule in subsections (A) or (B) above applies to distributions after the death of a Participant. The election must be made no later than the earlier of September 30 of the calendar year in which distribution would be required to begin under subsections (A) or (B) above, or by September 30 of the calendar year which contains the fifth anniversary of the Participant’s (or, if applicable, surviving spouse’s) death. If the Beneficiary does not make an election under this subsection (E), distributions will be made in accordance with subsections (A) or (B) above, whichever is applicable. For purposes of this Section 8.6(b)(212.05(b)(2) and Section 8.6(d12.05(d), unless Section 8.6(b)(2)(D12.05(b)(2)(D) applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(D12.05(b)(2)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A12.05(b)(2)(A). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A12.05(b)(2)(A)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: 401(k) Plan (Pepsiamericas Inc/Il/)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A) If the Participant’s surviving spouse is the Participant’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 Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½701/2, if later.
(B) If the Participant’s surviving spouse is not the Participant’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 Participant died.
(C) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2), other than Section 8.6(b)(2)(A), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2) and Section 8.6(d), unless Section 8.6(b)(2)(D) applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Retirement Plan (Lsi Industries Inc)
Death of Participant Before Distributions Begin. If the Participant dies before the distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(Ai) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiarydes- ignated Beneficiary, then, except as otherwise elected under Section 9.1(f), distributions to the surviving spouse Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½, if later.
(Bii) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiaryBeneficiary, then then, except as otherwise elected under Section 9.1(f), distributions to the designated beneficiary Beneficiary will begin by December 31 of the calendar year immediately following follow- ing the calendar year in which the Participant died.
(Ciii) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(Div) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse Spouse dies after the Participant but before distributions to the surviving spouse Spouse begin, this Section 8.6(b)(29.1(b)(2), other than Section 8.6(b)(2)(A9.1(b)(2)(i), will apply as if the surviving spouse Spouse were the Participant. For purposes of this Section 8.6(b)(29.1(b)(2) and Section 8.6(d9.1(d), unless Section 8.6(b)(2)(D9.1(b)(2)(iv) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(D9.1(b)(2)(iv) applies, distributions are considered to begin on the date distributions distribu- tions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(A9.1(b)(2)(i). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date Required Beginning Date (or to the Participant’s surviving spouse sur- viving Spouse before the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(A9.1(b)(2)(i)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Retirement Plan Agreement
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s 's entire interest will be distributed, or begin to be distributed, no later than as follows:
(A) If the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiaryDesignated Beneficiary, then, then distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 ½, if later.
(B) If the Participant’s 's surviving spouse is not the Participant’s 's sole designated beneficiaryDesignated Beneficiary, then distributions to the designated beneficiary Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(C) If there is no designated beneficiary Designated Beneficiary as of September 30 of the year following the year of the Participant’s 's death, the Participant’s 's entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s 's death.
(D) If the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiary Designated Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2subparagraph (a)(2), other than Section 8.6(b)(2)(A)subparagraph (a)(2)(A) above, will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2subparagraph (a)(2) and Section 8.6(dsubsection (c), unless Section 8.6(b)(2)(Dsubparagraph (a)(2)(D) applies, distributions are considered to begin on the Participant’s required beginning date's Required Distribution Date. If Section 8.6(b)(2)(Dsubparagraph (a)(2)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A)subparagraph (a)(2)(A) above. If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date 's Required Distribution Date (or to the Participant’s 's surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A)subparagraph (a)(2)(A) above), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Trust Agreement
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s 's entire interest will be distributed, or will begin to be distributed, no later than as follows:
(A) If the Participant’s 's surviving spouse Spouse is the Participant’s 's sole designated beneficiaryDesignated Beneficiary, then, except as otherwise provided in subsection (d), distributions to the surviving spouse Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½, if later.
(B) If the Participant’s 's surviving spouse Spouse is not the Participant’s 's sole designated beneficiaryDesignated Beneficiary, then then, except as otherwise provided in subsection (d), distributions to the designated beneficiary Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(C) If there is no designated beneficiary Designated Beneficiary as of September 30 of the year following the year of the Participant’s 's death, the Participant’s 's entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s 's death.
(D) If the Participant’s 's surviving spouse Spouse is the Participant’s 's sole designated beneficiary Designated Beneficiary and the surviving spouse Spouse dies after the Participant but before distributions to the surviving spouse Spouse begin, this Section 8.6(b)(2paragraph (ii), other than Section 8.6(b)(2)(Asubparagraph (A), will apply as if though the surviving spouse Spouse were the Participant. For purposes of this Section 8.6(b)(2subsection (a)(ii) and Section 8.6(dsubsection (c), unless Section 8.6(b)(2)(Dsubsection (a)(ii)(D) applies, distributions are considered to begin on the Participant’s required beginning date's Required Beginning Date. If Section 8.6(b)(2)(Dsubsection (a)(ii)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(Asubsection (a)(ii)(A). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: 401(k) Plan
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, begin the Participant’s entire interest will must be distributed, or begin to be distributed, no later than as follows:
(Ai) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary, then, distributions to the surviving spouse will must begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, died or by December 31 of the calendar year in which the Participant would have attained age 70½70-1/2, if later.
(Bii) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiary, then distributions to the designated beneficiary will must begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(Ciii) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will must be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(Div) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2)subsection 1.2, other than Section 8.6(b)(2)(Aparagraph 1.2(a), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2) subsection 1.2 and Section 8.6(d)subsection 1.4, unless Section 8.6(b)(2)(Dsubparagraph 1.2(b)(iv) applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(Dsubparagraph 1.2(b)(iv) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asubparagraph 1.2(b)(i). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asubparagraph 1.2(b)(i)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Death of Participant Before Distributions Begin. If Except as otherwise permitted by Section 401(a)(9) of the Code, if the Participant dies before distributions begin, the Participant’s entire interest Account will be distributed, or begin to be distributed, no later than as follows:
(A1) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryDesignated Beneficiary, then, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½, if later.
(B2) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryDesignated Beneficiary, then distributions to the designated beneficiary Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(C3) If there is no designated beneficiary Designated Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest Account will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D4) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary Designated Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2subparagraph 7.05(b), other than Section 8.6(b)(2)(Asubsection 7.05(b)(1), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2) and Section 8.6(d), unless Section 8.6(b)(2)(D) applies, distributions Distributions are considered to begin on the Participant’s required beginning dateAutomatic Distribution Date for purposes of this Section 7.05 and Section 7.07, unless Section 7.05(b)(4) applies. If Section 8.6(b)(2)(D7.05(b)(4) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A7.05(b)(1). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date Automatic Distribution Date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A7.05(b)(1)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: 457 Governmental Deferred Compensation Plan and Trust
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire nonforfeitable interest will be distributed, or begin to be distributed, no later than as follows:
(Ai) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryBeneficiary, then, then distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 1/2 , if later.
(Bii) If the Participant’s surviving spouse is not the Participant’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 Participant died.
(Ciii) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire nonforfeitable interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(Div) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(212.2(b), other than Section 8.6(b)(2)(ASubsection 12.2(b)(i), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(212.2(b) and Section 8.6(d)12.4, unless Section 8.6(b)(2)(DSubsection 12.2(b)(iv) applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(DSubsection 12.2(b)(iv) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(ASubsection 12.2(b)(i). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(ASubsection 12.2(b)(i)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Employee Stock Ownership Plan and Trust Agreement (Union Community Bancorp)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiaryDesignated Beneficiary, then, distributions to the surviving spouse Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½, if later.
(B) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiaryDesignated Beneficiary, then then, distributions to the designated beneficiary Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(C) If there is no designated beneficiary Designated Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiary Designated Beneficiary and the surviving spouse Spouse dies after the Participant but before distributions to the surviving spouse Spouse begin, this Section 8.6(b)(29.14(b)(2), other than Section 8.6(b)(2)(A9.14(b)(2)(A), will apply as if the surviving spouse Spouse were the Participant. For purposes of this Section 8.6(b)(29.14(b)(2) and Section 8.6(d9.14(d), unless Section 8.6(b)(2)(D9.14(b)(2)(D) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(D9.14(b)(2)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(A9.14(b)(2)(A). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date Required Beginning Date (or to the Participant’s surviving spouse Spouse before the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(A9.14(b)(2)(A)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: 401(k) Plan (ING U.S., Inc.)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(Aa) If the Participant’s surviving spouse Surviving Spouse is the Participant’s sole designated beneficiary, thenBeneficiary, distributions to the surviving spouse Surviving Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½, if later.
(Bb) If the Participant’s surviving spouse Surviving Spouse is not the Participant’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 Participant died.
(Cc) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth (5th) anniversary of the Participant’s death.
(Dd) If the Participant’s surviving spouse Surviving Spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse Surviving Spouse dies after the Participant but before distributions to the surviving spouse Surviving Spouse begin, this Section 8.6(b)(2)15.2, other than Section 8.6(b)(2)(A15.2(a), will apply as if the surviving spouse Surviving Spouse were the Participant. For purposes of this Section 8.6(b)(2) 15.2 and Section 8.6(d), unless Section 8.6(b)(2)(D) applies, distributions Required Minimum Distributions are considered to begin on the Participant’s required beginning date. If date (or, if Section 8.6(b)(2)(D15.2(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse Surviving Spouse under Section 8.6(b)(2)(A15.2(a)). If distributions under an annuity purchased from an insurance company payments irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse Surviving Spouse before the date distributions are required to begin to the surviving spouse Surviving Spouse under Section 8.6(b)(2)(A15.2(a)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Trust Agreement
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A) If the Participant’s 's surviving spouse is the Participant’s sole designated beneficiaryDesignated Beneficiary, then, except as provided in section 6.2(b)(ii)(E) below, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½, if later.
(B) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryDesignated Beneficiary, then then, except as provided in section 6.2(b)(ii)(E), distributions to the designated beneficiary Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(C) If there is no designated beneficiary Designated Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s 's death.
(D) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary Designated Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2section 6.2(b)(ii), other than Section 8.6(b)(2)(Asection 6.2(b)(ii)(A), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2sections 6.2(b)(ii) and Section 8.6(dsection 6.2(d), unless Section 8.6(b)(2)(Dsection 6.2(b)(ii)(D) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(Dsection 6.2(b)(ii)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection 6.2(b)(ii)(A). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date Required Beginning Date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Asection 6.2(b)(ii)(A)), the date distributions are considered to begin is the date distributions actually commence.
(E) Notwithstanding sections 6.2(b)(ii) and 6.2(d)(ii), Participants or beneficiaries may elect on an individual basis whether the 5-year rule or the life expectancy rule in sections 6.2(b)(ii) and 6.2(d)(ii) of the plan applies to distributions after the death of a Participant who has a designated beneficiary. The election must be made no later than the earlier of September 30 of the calendar year in which distribution would be required to begin under section 6.2(b)(ii) of the plan, or by September 30 of the calendar year which contains the fifth anniversary of the Participant’s (or, if applicable, surviving spouse’s) death. If neither the participant nor beneficiary makes an election under this paragraph, distributions will be made in accordance with sections 6.2(b)(ii) and 6.2(d)(ii) of the plan and, if applicable, the elections in section 6.2(b) above.
Appears in 1 contract
Samples: 403(b)(7) Retirement Plan Custodial Account Agreement
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A1) If the Participant’s surviving spouse is the Participant’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 Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 1/2, if later.
(B2) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryBeneficiary, then then, distributions to the designated beneficiary Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(C3) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D4) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2Subsection (ii), other than Section 8.6(b)(2)(ASubsection (ii)(1), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2Subsection (b) and Section 8.6(dSubsection (d), unless Section 8.6(b)(2)(DSubsection (ii)(4) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(DSubsection (ii)(4) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(ASubsection (ii)(4). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date Required Beginning Date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A(ii)(4)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Employee Stock Ownership Plan and Trust Agreement (Bancfirst Corp /Ok/)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A) a. If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryBeneficiary, then, then distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½, if later.
(B) b. If the Participant’s surviving spouse is not the Participant’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 Participant died.
(C) c. If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D) d. If the Participant’s surviving spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(24.05(B)(2), other than Section 8.6(b)(2)(A)paragraph (a) above, will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(24.06(B)(2) and Section 8.6(d4.06(D), unless Section 8.6(b)(2)(Dparagraph (d) above applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(Dparagraph (d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A)paragraph (a) above. If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A)paragraph (a) above), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: 457(b) Plan Document
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(Aa) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary, then, except as provided in the adoption agreement, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½701/2, if later.
(Bb) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiary, then then, except as provided in the adoption agreement, distributions to the designated beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(Cc) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(Dd) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2)2.2, other than Section 8.6(b)(2)(A2.2(a), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2) 2.2 and Section 8.6(d)4, unless Section 8.6(b)(2)(D2.2(d) applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(D2.2(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A2.2(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A2.2(a)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Trust Agreement (Nordson Corp)
Death of Participant Before Distributions Begin. If the Participant dies before distributions beginthe Benefit Commencement Date, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A1) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryBeneficiary, then, then distributions to the surviving spouse will begin by the later of (a) December 31 of the calendar year immediately following the calendar year in which the Participant died, or by (b) December 31 of the calendar year in which the Participant would have attained age 70½70½. Unless the Participant’s remaining interest is distributed in a lump sum by such date, the distribution will be made, if laterpermitted, in the form of an annuity purchased from 105 ADDED – Amendment L, December 17, 2003, retroactively effective January 1, 2003, Article V, Section 7 is added. 1993 Restated Trust Agreement (Inclusive of Amendments I through XCIII) an insurance company and distributions thereunder will be made in accordance with the requirements of Section 401(a)(9) of the Code and the Treasury regulations.
(B2) If the Participant’s surviving spouse is not the Participant’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 Participant died.
(C) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s deathIn all other cases, the Participant’s entire interest will be distributed in a lump sum by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D3) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2), other than Section 8.6(b)(2)(A), the entire interest will apply as if be distributed in a lump sum by December 31 of the surviving spouse were calendar year containing the Participant. For purposes fifth anniversary of this Section 8.6(b)(2the spouse’s death.
(4) and Section 8.6(d), unless Section 8.6(b)(2)(D) applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (or to the Participant’s surviving spouse before is the date distributions are Participant’s sole designated Beneficiary, the spouse may elect on an individual basis whether to apply the life expectancy rule in
(1) above or the 5-year rule in (2) above. The election must be made no later than the earlier of September 30 of the calendar year in which distribution would be required to begin under (1) above, or by September 30 of the calendar year which contains the fifth anniversary of the participant’s (or, if applicable, surviving spouse’s) death. If the Spouse fails to make an election, distributions will be made in accordance with (1) above.
(5) If the Participant’s Account is divided into two or more separate accounts no later than the last day of the year following the calendar year of the Participant’s death and the Participant’s surviving spouse is the sole designated Beneficiary with respect to one of such separate accounts, then the rules set forth in paragraphs 1, 3 and 4 shall apply with respect to the separate account maintained for the surviving spouse under Section 8.6(b)(2)(Aspouse. 1993 Restated Trust Agreement (Inclusive of Amendments I through XCIII) 1993 Restated Trust Agreement (Inclusive of Amendments I through XCIII)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Restated Trust Agreement
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s 's entire interest will be distributed, or begin to be distributed, no later than as follows:
(Aa) If the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiary, then, except as provided in Article VI, distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 1/2, if later.
(Bb) If the Participant’s 's surviving spouse is not the Participant’s 's sole designated beneficiary, then then, except as provided in Article VI, distributions to the designated beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(Cc) If there is no designated beneficiary as of September 30 of the year following the year of the Participant’s 's death, the Participant’s 's entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s 's death.
(Dd) If the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(2)2.2, other than Section 8.6(b)(2)(A2.2(a), will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(2) 2.2 and Section 8.6(d)Article IV, unless Section 8.6(b)(2)(D2.2(d) applies, distributions are considered to begin on the Participant’s 's required beginning date. If Section 8.6(b)(2)(D2.2(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A2.2(a). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s 's required beginning date (or to the Participant’s 's surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A2.2(a)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Non Standardized 401(k) Profit Sharing Plan (Aceto Corp)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:: .
(Aa) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiaryBeneficiary, then, except as provided in the Adoption Agreement, distributions to the surviving spouse Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½, if later.
(Bb) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiaryBeneficiary, then then, except as provided in the Adoption Agreement, distributions to the designated beneficiary Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(Cc) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(Dd) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse Spouse dies after the Participant but before distributions to the surviving spouse Spouse begin, this Section 8.6(b)(2)paragraph 17.7, other than Section 8.6(b)(2)(Aparagraph 17.7(a), will apply as if the surviving spouse Spouse were the Participant. For purposes of this Section 8.6(b)(2) paragraph and Section 8.6(d)paragraphs 17.11 and 17.12, unless Section 8.6(b)(2)(Dparagraph 17.7(d) applies, distributions are considered to begin on the Participant’s required beginning dateRequired Beginning Date. If Section 8.6(b)(2)(Dparagraph 17.7(d) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(A)paragraph 17.7(a) . If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date (Required Beginning Date [or to the Participant’s surviving spouse Spouse before the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(Aparagraph 17.7(a))], the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: 401(k) Defined Contribution Plan (Measurement Specialties Inc)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or begin to be distributed, no later than as follows:
(A) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryBeneficiary, then, except as provided in Section 7.15(e), distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½, if later.
(B) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryBeneficiary, then distributions to then, unless a different election is made under Section 7.15(e), the designated beneficiary Participant’s entire interest will begin be distributed, or commence (and be distributed over a period described in Section 7.15(d)(2)(A)), by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(C) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse dies after the Participant but before distributions to the surviving spouse begin, this Section 8.6(b)(27.15(b), other than Section 8.6(b)(2)(A)paragraph (A) above, will apply as if the surviving spouse were the Participant. For purposes of this Section 8.6(b)(27.15(b)(2) and Section 8.6(d7.15(d), unless Section 8.6(b)(2)(Dparagraph (D) above applies, distributions are considered to begin on the Participant’s required beginning date. If Section 8.6(b)(2)(Dparagraph (D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(Aparagraph (A). If distributions under an annuity purchased from an insurance company irrevocably commence to the Participant before the Participant’s required beginning date Required Beginning Date (or to the Participant’s surviving spouse before the date distributions are required to begin to the surviving spouse under Section 8.6(b)(2)(A7.15(b)(1)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Investment, Savings and Employee Stock Ownership Plan (Toro Co)
Death of Participant Before Distributions Begin. If the Participant dies before distributions begin, the Participant’s entire interest will be distributed, or will begin to be distributed, no later than as follows:
(A) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiaryBeneficiary, thenthen subject to Section 4.05(a)(2)(E) below, distributions to the surviving spouse Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age 70½70 1/2, if later.
(B) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiaryBeneficiary, then subject to Section 4.05(a)(2)(E) below, distributions to the designated beneficiary Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died.
(C) If there is no designated beneficiary Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.
(D) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiary Beneficiary and the surviving spouse Spouse dies after the Participant but before distributions to the surviving spouse Spouse begin, this Section 8.6(b)(2), 4.05(a)(2) other than Section 8.6(b)(2)(A), 4.05(a)(2)(A) will apply as if the surviving spouse Spouse were the Participant.
(E) If the Participant dies before distributions begin and there is a designated Beneficiary, distribution to the designated Beneficiary is not required to begin by the date specified in Section 4.05(a)(2)(A) or (B) above, but only if the designated Beneficiary elects to have the Participant’s entire interest distributed to the designated Beneficiary by December 31 of the calendar year containing the fifth anniversary of the Participant’s death. Such an election by the designated Beneficiary must be made no later than the earlier of September 30 of the calendar year in which the distribution would otherwise be required to begin under Section 4.05(a)(2)(A) or (B), or September 30 of the calendar year that contains the fifth anniversary of the Participant’s death. For purposes of this Section 8.6(b)(24.05(a)(2) and Section 8.6(d4.05(d), unless Section 8.6(b)(2)(D) applies, distributions are considered to begin on the Participant’s required beginning date. If Required Beginning Date (or, if Section 8.6(b)(2)(D4.05(a)(2)(D) applies, distributions are considered to begin on the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(A4.05(a)(2)(A)). If distributions under an annuity purchased from an insurance company payments irrevocably commence to the Participant before the Participant’s required beginning date Required Beginning Date (or to the Participant’s surviving spouse Spouse before the date distributions are required to begin to the surviving spouse Spouse under Section 8.6(b)(2)(A4.05(a)(2)(A)), the date distributions are considered to begin is the date distributions actually commence.
Appears in 1 contract
Samples: Labor Agreement
