Five Percent Owners Sample Clauses

Five Percent Owners. The required beginning date of a Participant who is a five percent (5%) owner during any year beginning after December 31, 1979, is the first day of April following the later of: (1) the calendar year in which the Participant attains age seventy and one-half (70-1/2), or (2) the earlier of the calendar year with or within which ends the Plan Year in which the Participant becomes a five percent (5%) owner, or the calendar year in which the Participant retires. The required beginning date of a Participant who is not a five percent (5%) owner who attains age seventy and one-half (70-1/2) during 1988 and who has not retired as of January 1, 1989, is April 1, 1990. (iii) Five percent (5%) owner. A Participant is treated as a five percent (5%) owner for purposes of this Section if such Participant is a five percent (5%) owner as defined in section 416(i) of the Code (determined in accordance with section 416 but without regard to whether the Plan is Top-Heavy) at any time during the Plan Year ending with or within the calendar year in which such owner attains age sixty-six and one-half (66-1/2) or any subsequent Plan Year. (iv) Once distributions have begun to a five percent (5%) owner under this Section, they must continue to be distributed, even if the Participant ceases to be a five percent (5%) owner in a subsequent year.
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Five Percent Owners. The required beginning date of a Participant who is a five percent (5%) owner during any year beginning after December 31, 1979, is the first day of April following the later of:
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Five Percent Owners. If the Participant is a five-percent owner of the Employer during any year beginning after December 31, 1979, the Participant's required beginning date shall be the first day of April following the later of: (1) the calendar year in which the Participant attains age 70 1/2, or (2) the earlier of the calendar year with or within which ends the Plan Year in which the Participant becomes a five-percent owner or the calendar year in which the Participant retires. Once minimum distributions have commenced to a five-percent owner under this Article 8.6, they must continue to be made even if the Participant ceases to be a five-percent owner in a subsequent year. For purposes of this Article 8.6, a Participant is treated as a five-percent owner if such Participant is a five- percent owner as defined in Section 416(i) of the Code (without regard to whether the Plan is a top-heavy plan) at any time during the Plan Year ending with or within the calendar year in which such owner attains age 66 1/2 or any subsequent Plan Year.
Sample 1
Five Percent Owners. The Required Beginning Date of a ------------------- Participant or Former Participant who is a Five Percent Owner during any year beginning after December 31, 1979, is the first day of April following the later of: (1) the calendar year in which the Participant attains age seventy and one-half (70 1/2) years, or (2) the earlier of the calendar year with or within which ends the Plan Year in which the Participant becomes a Five Percent Owner, or the calendar year in which the Participant retires.
Sample 1

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