Common use of Death or Disability Prior to Complete Distribution of Account Clause in Contracts

Death or Disability Prior to Complete Distribution of Account. If a Participant dies or becomes disabled (as defined in Section 409A) prior to the commencement of the distribution of the amounts credited to his Account, the balance of such Account shall be distributed to the Participant or his Beneficiary, as applicable, in a lump sum as soon as practicable after the Participant’s death or disability. If a Participant dies or becomes disabled after the commencement of such distributions, but prior to the complete distribution of his Account, the balance of the amounts credited to his Account shall be distributed to the Participant or his Beneficiary, as applicable, over the remaining period during which such amounts were otherwise distributable to the Participant under Section 5.1 hereof.

Appears in 7 contracts

Samples: Deferred Compensation Plan (Nuveen Multi-Asset Income Fund), Deferred Compensation Plan (Nuveen Core Plus Impact Fund), Deferred Compensation Plan (Nuveen Municipal Credit Opportunities Fund)

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