Distribution of Death Benefit. Notwithstanding any other provision of the Plan, after receipt by the Committee of due notice of the death of the Participant, any benefit payable under this Article shall be paid in accordance with Article IX.
Distribution of Death Benefit. 39 7.4 Payment on Beneficiary's Death . . . . . . . . . . . . . . . . . . . 39 7.5 Post-Retirement Death Benefit. . . . . . . . . . . . . . . . . . . . 39
Distribution of Death Benefit. Generally, if the Plan beneficiary is the Participant's surviving spouse, distribution of the death benefit must begin no later than the year the Participant would have attained age 70 1/2 or any other date allowed under federal law or regulations. If the Plan beneficiary is not the Participant's surviving spouse, generally, the death benefit must be used to purchase Annuity payments within one year of the year of the Participant's death or otherwise paid within five years of the year of the Participant's death. Annuity payments to a Plan beneficiary may not extend beyond the period specified in the Code.
Distribution of Death Benefit. Part II.
Distribution of Death Benefit. If the owner eligible to receive the death benefit is not a natural person, then the owner must receive the death benefit in a lump sum within five years. Otherwise, within 60 days of the date when the death benefit is calculated, the owner may elect to receive the death benefit under an income plan or in a lump sum. Payments from the income plan must begin within one year of the date of death and must be payable throughout: - the life of the owner; or - a period not to exceed the life expectancy of the owner; or - the life of the owner with payments guaranteed for a period not to exceed the life expectancy of the owner. Any death benefit payable in a lump sum must be paid within five years of the date of death. If no election is made, funds will be distributed at the end of the five year period. If the surviving spouse of the deceased owner is the new owner, then the spouse may elect one of the options listed above or may continue the Contract as if the death had not occurred. If the Contract is continued as if the death had not occurred, the surviving spouse may make a single withdrawal of any amount within one year of the date of death without incurring a Withdrawal Charge. However, a Market Value Adjustment, determined as of the date of the withdrawal, will apply. The single withdrawal amount is in addition to the annual Free Withdrawal Amount. If the Contract is continued and there is no annuitant, the new annuitant will be the surviving spouse. -------------------------------------------------------------------------------- INCOME PAYMENT OPTIONS --------------------------------------------------------------------------------
Distribution of Death Benefit. 32 8.8 Beneficiary Designation; Spousal Consent Rights.........................................33 8.9 Minimum Required Distributions; Incorporation of Regulations............................33 8.10 Direct Rollover.........................................................................34
Distribution of Death Benefit. If a Participant dies before receiving his or her entire benefit, such Participant's Beneficiary shall be entitled to receive such benefit (or the undistributed portion thereof) after filing the prescribed claim form with the Employer. Subject to the provisions of Sections 8.5 and 8.9, the Beneficiary's distribution shall be made as follows:
(a) This Subsection 8.7(a) shall apply only in the event that a Participant elected to receive his or her benefit in installments under Section 8.6 and then dies after the installment payments have commenced but before such payments are completed. Subject to the requirements of Subsection 8.9(c), the remaining installments of such Participant's benefit ordinarily shall be paid to his or her Beneficiary in accordance with the predetermined distribution schedule originally established for him or her by the Employer. However, a Beneficiary may make a written request, subject to the Employer's consent, to accelerate the distribution of any or all unpaid installments to which such Beneficiary is entitled.
(b) This Subsection 8.7(b) shall apply in the event that a Participant dies before his or her benefit is distributed and Subsection (a) above does not apply. The Participant's benefit shall be paid to his or her Beneficiary in the form of a single lump sum in cash and the distribution shall be made as soon as reasonably practical after the Participant's death. However, in no event shall the lump sum distribution be made later than five (5) years after the Participant's death.
Distribution of Death Benefit. Generally, if the Plan beneficiary is the Participant's surviving spouse, distribution of the death benefit must begin no later than the year the Participant would have attained age 70 1/2 or any other date allowed under federal law or regulations. If the surviving spouse dies before the distribution to such spouse begins, then the surviving spouse will be treated as if he/she were the Participant. If the Plan beneficiary is not the Participant's surviving spouse, generally, the death benefit must be used to purchase Annuity payments within one year of the year of the Participant's death or otherwise paid within five years of the year of the Participant's death. Annuity payments to a Plan beneficiary may not extend beyond the period specified in the Code. G-CDA(12/99)(TX-GE) 16
Distribution of Death Benefit and replace it with the following:
