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

Death Prior to Complete Distribution of Account. If a Participant dies prior to the commencement of the distribution of the amounts credited to his Account, the balance of such Account shall be distributed to his Beneficiary in a lump sum as soon as practicable after the Participant’s death. If a Participant dies 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 his Beneficiary over the remaining period during which such amounts were otherwise distributable to the Participant under Section 5.1 hereof.

Appears in 71 contracts

Samples: Deferred Compensation Plan (Nuveen Municipal Credit Opportunities Fund), Deferred Compensation Plan (Nuveen High Income 2023 Target Term Fund), Deferred Compensation Plan (Nuveen Emerging Markets Debt 2025 Term Fund)

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