Distributions After Death. Benefits payable to a Beneficiary must be distributed or commence to be distributed from the Individual’s account in accordance with one of the following provisions:
(a) Upon the death of the Individual, distribution of the Individual’s entire interest shall be completed by December 31 of the calendar year containing the fifth (5th) anniversary of the Individual’s death except to the extent that an election is made to receive distributions in accordance with (i) or (ii) below.
(i) If the Individual’s interest is payable to a Beneficiary, then the entire interest of the Individual may be distributed over the life or over a period certain not greater than the life expectancy of the Beneficiary commencing on or before December 31 of the calendar year immediately following the calendar year in which the Individual died.
(ii) If the Beneficiary is the Individual’s surviving Spouse, the date distributions are required to begin in accordance with (i) above shall not be earlier than the later of (A) December 31 of the calendar year immediately following the calendar year in which the Individual died or (B) December 31 of the calendar year in which the Individual would have attained age 70 1/2.
(b) If the Beneficiary is the Individual’s surviving Spouse, the Spouse may elect to treat the account as his or her own Xxxx XXX. This election will be deemed to have been made if such surviving Spouse makes a regular contribution to the account, makes a rollover to or from such account, or fails to take distributions under (a) above.
(c) The amount to be distributed under paragraph (a)(i) or (a)(ii) is the quotient obtained by dividing the value of the IRA as of the end of the preceding year by the remaining Life Expectancy specified in such paragraph. Life Expectancy is determined using the Single Life Table in Q&A-1 of §1.401(a)(9)-9 of the Income Tax Regulations. If distributions are being made to a surviving Spouse as the sole Designated Beneficiary, such Xxxxxx’s remaining Life Expectancy for a year is the number in the Single Life Table corresponding to such Spouse’s age in the year. In all other cases, remaining Life Expectancy for a year is the number in the Single Life Table corresponding to the Beneficiary’s age in the year specified in paragraph (a)(i) or (ii) reduced by one (1) for each subsequent year.
(d) the “value” of the IRA includes the amounts of any outstanding rollover, transfer and recharacterization under Q&As-7 and -8 of Regulations Section 1.408-9....
Distributions After Death. If an Executive dies before the entire amount credited to the Executive under the Plan has been paid to the Executive, the amount remaining shall be distributed to the Executive’s Beneficiary in accordance with the method selected by the Executive. If an Executive has not designated a Beneficiary, or if no designated Beneficiary is living on the date of distribution, such amount shall be distributed to those persons or such trust entitled to receive distributions of the Executive’s benefits under the Profit Sharing Plan.
Distributions After Death. DEATH BEFORE MATURITY DATE If any Owner dies prior to the Maturity Date (or date Annuity Payments begin, if earlier) the Death Benefit will equal the Contract Value. Upon death of the Owner who is also the Annuitant, we will pay the Death Benefit in one sum to the Beneficiary. If the co-Owner predeceases the Owner, the Owner will be treated as the Beneficiary. The Beneficiary may continue the Contract as the Owner, subject to the requirements of Section 72(s) of the Internal Revenue Code. If the Contract can not continue under Section 72(s), or if the Beneficiary elects not to continue the Contract, the Death Benefit will be distributed in one sum. The Contract will terminate if the Death Benefit is taken in one sum. Written notice and proof of death and all required claim forms must be received at the Company's Annuities Service Center prior to any distribution.
Distributions After Death. DEATH BENEFIT BEFORE MATURITY We will pay the Death Benefit to the Beneficiary if any Owner dies DATE prior to the Maturity Date. If any Owner is not an individual the death of any Annuitant is treated as the death of an Owner and the Death Benefit will be determined by substituting the Annuitant for the Owner. We will determine the Death Benefit (as described below) as of the date on which written notice and proof of death and all required claims forms are received at the Annuities Service Office. The Death Benefit may be taken in one sum immediately, in which case the Contract will terminate. If the Death Benefit is not taken in one sum immediately, the Contract will continue subject to the following provisions:
(a) The Beneficiary becomes the Owner.
(b) The excess, if any, of the Death Benefit over the Contract Value will be allocated to and among the Investment Options in proportion to their values as of the date on which the Death Benefit is determined.
(c) No additional Payments may be applied to the Contract.
(d) If the Beneficiary is not the deceased Owner's spouse, the entire interest in the Contract must be distributed under one of the following options:
(i) The entire interest in the Contract must be distributed over the life of the Beneficiary, or over a period not extending beyond the life expectancy of the Beneficiary, with distributions beginning within one year of the Owner's death; or
(ii) the entire interest in the Contract must be distributed within 5 years of the Owner's Death, or
(iii) as Annuity Payments under one of the options described in the Annuity Options section. If the Beneficiary dies before the distributions required by (i) or (ii) are complete, the entire remaining Contract Value must be distributed in a lump sum immediately.
(e) If the Beneficiary is the deceased Owner's spouse, the Contract will continue with the surviving spouse as the new Owner. The surviving spouse may name a new Beneficiary (and, if no Beneficiary is so named, the surviving spouse's estate will be the Beneficiary). The spouse may also elect distributions under one of the following options:
(i) the entire interest in the Contract may be distributed over the life of the Beneficiary, or over a period not extending beyond the life expectancy of the Beneficiary, with distributions beginning within one year of the Owner's death; or
(ii) as Annuity Payments under one of the options described in the Annuity Options section. If there is more than one Beneficia...
Distributions After Death. If a Participant dies before the entire amount credited to the Participant under the Plan has been paid to the Participant, the amount remaining shall be distributed to the Participant's Beneficiary in accordance with the method selected by the Executive. If a Participant has not designated a Beneficiary, or if no designated Beneficiary is living on the date of distribution, such amount shall be distributed to those persons or such trust entitled to receive distributions of the Executive's benefits under the Profit Sharing Plan.
Distributions After Death. DEATH BEFORE MATURITY If any Owner dies prior to the Maturity Date (or date Annuity DATE Payments begin, if earlier) the Death Benefit will equal to the Contract Value. Upon death of the Owner who is also the Annuitant, we will pay the Death Benefit in one sum to the Beneficiary. If the co-Owner predeceases the Owner, the Owner will be treated as the Beneficiary. The Beneficiary may continue the Contract as the Owner, subject to the requirements of Section 72(s) of the Internal Revenue Code. If the Contract can not continue under Section 72(s), or if the Beneficiary elects not to continue the Contract, the Death Benefit will be distributed in one sum. The Contract will terminate if the Death Benefit is taken in one sum. Written notice and proof of death and all required claim forms must be received at the Company's Annuities Service Center prior to any distribution. DEATH BENEFIT ON OR On or after the date Annuity Payments begin, if the Annuitant dies, AFTER MATURITY DATE the Death Benefit will depend on the Annuity Option selected in accordance with Part 10 (Annuity Payments). PROOF OF DEATH We will require Proof of death upon the death of the Annuitant or the Owner. Proof of death is one of the following received at the Annuities Service Center:
(a) A certified copy of a death certificate.
(b) A certified copy of a decree of a court of competent jurisdiction as to the finding of death.
(c) Any other proof satisfactory to us.
Distributions After Death. In the event a Participant dies before benefits commence and the Participant has not made a Qualified Election to waive the Pre-Retirement Annuity, such benefit shall be paid in the form of an immediate or deferred annuity for the surviving Spouse's lifetime or with the consent of the surviving Spouse in one lump sum. In the event a surviving Spouse elects to purchase a deferred annuity, distribution must commence not later than the date on which the Participant would have attained age 70-1/2. In the event the surviving Spouse is the Beneficiary and dies before distribution to such Spouse begins, the surviving Spouse shall be treated as if he or she were the Participant. If a Participant dies before benefits commence and his surviving Spouse is not the designated Beneficiary, the entire interest must be distributed within 5 years after the participant's death to the Participant's Beneficiary or Beneficiaries unless a designated Beneficiary elects not later than one year following the Participant's death to receive the distribution over the designated Beneficiary's lifetime. If distributions have commenced to the Participant before the Participant's death, the remaining portion of the Participant's benefit will be paid to the Participant's surviving Spouse or other Beneficiary as rapidly as under the method selected by the Participant. Any amount paid to a child of the Participant will be treated as if it had been paid to the surviving spouse if the amount becomes payable to the surviving spouse when the child reaches the age of majority. If distribution in the form of an annuity irrevocably commences to the participant before the required beginning date, the date distribution is considered to begin is the date distribution actually commences.
Distributions After Death. Benefits payable to a Beneficiary must be distributed or commence to be distributed from the Individual’s account in accordance with one of the following provisions:
Distributions After Death. Upon the death of the Designated Beneficiary, any balance remaining in the Xxxxxxxxx ESA shall be distributed to the estate of the Designated Beneficiary within 30 days after the date of death.
Distributions After Death. 8.1 PART 9 - ANNUITY PAYMENTS .............. 9.1 PART 10 - ANNUITY OPTIONS ....