Distribution Upon Death. If the Employee’s employment terminates on account of death, the Trustee shall make a distribution to the Employee’s Beneficiary equal to all amounts allocated to the Employee Account as of the date of his death. In addition, the Company agrees to provide term life insurance (at the Company’s cost) sufficient to pay the Employee’s Beneficiary an amount equal to the sum of all Company Contributions scheduled to be made under 3, above, less Company Contributions previously made to the Trust.
Distribution Upon Death. A distribution upon death of a Participant shall not be covered by the transitional rule in this Section unless the information in the designation contains the required information described above with respect to the distributions to be made upon the death of the Participant.
Distribution Upon Death. In the event of the Participant's death (whether death occurs before or after Separation from Service or Severance from Employment), the Plan Administrator will direct the Trustee, in accordance with this Section 6.01(B) to distribute to the Participant's Beneficiary the Participant's Vested Account Balance remaining in the Trust at the time of the Participant's death.
Distribution Upon Death. If a Participant dies while employed with the Employer, the unpaid portion of his or her Participant’s Account balance, if any, shall be distributed in a single sum.
Distribution Upon Death. No death benefit shall be payable under this Agreement.
Distribution Upon Death. In the event of the Participant's Separation from Service on account of death, the Plan Administrator will direct the Trustee, in accordance with this Section 6.01(B) and subject to Section 6.02(D), to distribute to the Participant's Beneficiary the Participant's Vested Account Balance remaining in the Trust at the time of the Participant's death. The Plan Administrator, subject to the requirements of Sections 6.04 and 6.02(D) or to a Beneficiary's written election (if authorized by the next paragraph of this Section 6.01(B)), must direct the Trustee to distribute or commence distribution of the deceased Participant's Vested Account Balance, as soon as administratively practicable following the Participant's death or, if later, the date on which the Plan Administrator receives notification of, or otherwise confirms, the Participant's death. If the Participant's Vested Account Balance determined in accordance with Section 6.01(A)(6) does not exceed $5,000, the Trustee will distribute the balance in a lump sum without regard to Section 6.04. If the Participant's Vested Account Balance exceeds $5,000, the Trustee will distribute the balance subject to Section 6.02(D). If the Participant's death benefit is payable in full to the Participant's surviving spouse, the surviving spouse may elect distribution at any time and in any form (except a joint and survivor annuity) the Plan would permit a Participant to elect upon Separation from Service. The Participant, on a form prescribed by the Plan Administrator, may (subject to the requirements of Section 6.04) elect the payment method or the payment term or both, which will apply to any Beneficiary, including his/her surviving spouse. The Participant's election may limit any Beneficiary's right to increase the frequency or the amount of any payments. Any payment term elected by the Participant must not exceed the payment term the Code otherwise would permit the Beneficiary to elect upon the Participant's death.
Distribution Upon Death. 6.01 Rights of ownership succession ....................... 16 6.02 Notification of death ................................
Distribution Upon Death. (a) If the Grantor dies prior to complete distribution of his Trust Account, the remainder of the Trust Account shall be distributed according to Articles V and IX of this agree- ment. If the remainder is to be paid under Section 5.1(a) above, the written election of the Beneficiary must be received by the Trustee no later than December 31 of the year following the date of the Grantor’s death, and the Trust Account balance will be distributed in substantially equal installments over the life expectancy of the desig- nated Beneficiary commencing no later than the December 31st of the calendar year immediately follow- ing the calendar year in which the Grantor’s death occurred. The designated Beneficiary may elect at any time to increase the frequency or the amount of such payments.
(b) If the Grantor's surviving spouse is the sole designated Beneficiary, after the death of the Grantor, the spouse may elect to treat the Trust Account as the Xxxx XXX of the sur- viving spouse. This election will be made upon written notice to the Trustee, using a form acceptable to the Trust- ee, and may be made at any time after the Grantor's death. In such event, the assets of the deceased Grantor's Trust Account will be moved to a Xxxx XXX in the name of the surviving spouse, rather than the surviving spouse maintaining an interest in the deceased Xxxxxxx's Trust Account as a Beneficiary. Alternatively, this election will be deemed to have been made if the surviving spouse makes a contribution to the Account of the deceased Participant or fails to take minimum required distributions as Beneficiary.
(c) Notwithstanding Article V or paragraph 9.7(a) above, if the Beneficiary informs the Trustee in writing on a form acceptable to the Trustee that distribution to such Beneficiary has complied with this agreement for each calendar year after the Grantor’s death, the Trustee shall comply with the Beneficiary’s request to increase the fre- quency or amount of future payments. The Beneficiary shall be responsible for computing the amount and form of the distribution required to be paid to him each year from the Trust, the date by which the amount should be paid, and for timely providing this information to the Trustee in writing in a form acceptable to the Trustee, and the Trustee shall have no responsibility with respect to such matters.
(d) Any Beneficiary who currently is not receiving distribu- tions of the Grantor's Account based on the Beneficiary's life expectancy (so that ...
Distribution Upon Death. Notwithstanding any provision of this IRA to the contrary, the distribution of the individual's interest in the IRA shall be made in accordance with the requirements of section 408(b)(3) of the Code, as modified by section 408A(c)(5), and the regulations thereunder, the provisions of which are herein incorporated by reference. If distributions are not made in the form of an annuity on an irrevocable basis (except for acceleration), then distribution of the interest in the IRA (as determined under paragraph (c)) must satisfy the requirements of section 408(a)(6) of the Code, as modified by section 408A(c)(5), and the regulations thereunder, rather than the distribution rules in paragraphs (b), (c), (d), and (e) below.
Distribution Upon Death. Pursuant to Paragraph 11.1 of The Marquette Asset Protection Trust Agreement of Marquette Bank, after the death of the Participant, the Trustee shall issue payment of any reasonable expenses for the trust administration and payment for any taxes due from the Trust to the State(s) and/or Federal government due to the death of the Participant.
