Common use of Distribution Calculations Clause in Contracts

Distribution Calculations. Your RMD will generally be calculated chronically ill individual (as defined by law); or 5) an individual by dividing your previous year-end adjusted balance in your who is not more than 10 years younger than the SIMPLE IRA SIMPLE IRA by a divisor from the uniform lifetime table provided owner. Certain qualifying trusts can also be an eligible designated by the IRS. This table is indexed to your age attained during a beneficiary. For a qualifying trust to be an eligible designated distribution year. This table is used whether you have named a beneficiary, the qualifying trust beneficiaries must be eligible beneficiary and regardless of the age or type of beneficiary you may designated beneficiaries. have named. However, if for any distribution year, you have as a. Spouse Beneficiary. Your spouse may have the option of your only named beneficiary for the entire year, your spouse, who distributing the SIMPLE IRA assets over a single life expectancy is more than ten years younger than you, the uniform lifetime table period or within ten years (the ten-year rule). Your spouse may will not be used. To calculate your RMD for that year you will use alternatively choose to treat the entire interest (all of the account) the ages of you and your spouse at the end of that year to determine of the SIMPLE IRA as his/her own IRA. a joint life expectancy divisor from the IRS's joint and last survivor Under the single life expectancy, if your spouse is your only table. This will be the case even if your spouse dies, or you become designated beneficiary on the determination date, or if there are divorced and do not change your beneficiary, during that year. The multiple designated beneficiaries and separate accounting applies, fair market value of a qualifying longevity annuity contract (QLAC) he/she will use his/her age each year to determine the life is not included in the adjusted balance for RMD calculations. expectancy divisor for calculating that year's RMD. If your

Distribution Calculations. Your RMD will generally be calculated chronically ill individual (as defined by law); or 5) an individual by dividing your previous year-end adjusted balance in your who is not more than 10 years younger than the SIMPLE IRA XXX SIMPLE IRA XXX by a divisor from the uniform lifetime table provided owner. Certain qualifying trusts can also be an eligible designated by the IRS. This table is indexed to your age attained during a beneficiary. For a qualifying trust to be an eligible designated distribution year. This table is used whether you have named a beneficiary, the qualifying trust beneficiaries must be eligible beneficiary and regardless of the age or type of beneficiary you may designated beneficiaries. have named. However, if for any distribution year, you have as a. Spouse Beneficiary. Your spouse may have the option of your only named beneficiary for the entire year, your spouse, who distributing the SIMPLE IRA XXX assets over a single life expectancy is more than ten years younger than you, the uniform lifetime table period or within ten years (the ten-year rule). Your spouse may will not be used. To calculate your RMD for that year you will use alternatively choose to treat the entire interest (all of the account) the ages of you and your spouse at the end of that year to determine of the SIMPLE IRA XXX as his/her own IRAXXX. a joint life expectancy divisor from the IRS's joint and last survivor Under the single life expectancy, if your spouse is your only table. This will be the case even if your spouse dies, or you become designated beneficiary on the determination date, or if there are divorced and do not change your beneficiary, during that year. The multiple designated beneficiaries and separate accounting applies, fair market value of a qualifying longevity annuity contract (QLAC) he/she will use his/her age each year to determine the life is not included in the adjusted balance for RMD calculations. expectancy divisor for calculating that year's RMD. If your

Distribution Calculations. Your RMD will generally be calculated If your beneficiary is a designated beneficiary who is not an by dividing your previous year-end adjusted balance in your eligible designated beneficiary, such beneficiary will have to follow SIMPLE IRA by a divisor from the uniform lifetime table provided the ten-year rule and is required to remove all assets from the by the IRS. This table is indexed to your age attained during a SIMPLE IRA by December 31 of the tenth year following the year distribution year. This table is used whether you have named a of your death. beneficiary and regardless of the age or type of beneficiary you may 3. Eligible Designated Beneficiary. An eligible designated beneficiary have named. However, if for any distribution year, you have as is a designated beneficiary who is: 1) the SIMPLE IRA owner's your only named beneficiary for the entire year, your spouse, who surviving spouse; 2) a SIMPLE IRA owner's minor child (through is more than ten years younger than you, the uniform lifetime table the age of majority); 3) disabled (as defined by law); 4) a will not be used. To calculate your RMD for that year you will use chronically ill individual (as defined by law); or 5) an individual by dividing your previous year-end adjusted balance in your who is not more than 10 years younger than the SIMPLE IRA SIMPLE IRA by a divisor from the uniform lifetime table provided owner. Certain qualifying trusts can also be an eligible designated by the IRS. This table is indexed to your age attained during a beneficiary. For a qualifying trust to be an eligible designated distribution year. This table is used whether you have named a beneficiary, the qualifying trust beneficiaries must be eligible beneficiary and regardless of the age or type of beneficiary you may designated beneficiaries. have named. However, if for any distribution year, you have as a. Spouse Beneficiary. Your spouse may have the option of your only named beneficiary for the entire year, your spouse, who distributing the SIMPLE IRA assets over a single life expectancy is more than ten years younger than you, the uniform lifetime table period or within ten years (the ten-year rule). Your spouse may will not be used. To calculate your RMD for that year you will use alternatively choose to treat the entire interest (all of the account) the ages of you and your spouse at the end of that year to determine of who is not more than 10 years younger than the SIMPLE IRA as his/her own IRA. a joint life expectancy divisor from the IRS's joint and last survivor Under the single life expectancy, if your spouse is your only owner. Certain qualifying trusts can also be an eligible designated table. This will be the case even if your spouse dies, or you become beneficiary. For a qualifying trust to be an eligible designated beneficiary on the determination date, or if there are divorced and do not change your beneficiary, during that year. The multiple designated beneficiary, generally the qualifying trust beneficiaries and separate accounting applies, must be fair market value of a qualifying longevity annuity contract (QLAC) he/she will use his/her age each year to determine the life eligible designated beneficiaries. is not included in the adjusted balance for RMD calculations. expectancy divisor for calculating that year's RMDa. Spouse Beneficiary. If yourYour spouse beneficiary may have the