Minimum Distribution Requirement Clause Samples
Minimum Distribution Requirement. Effective for Calendar years beginning with the 2003 Calendar the provisions of this Section apply for purposes of determining minimum required distributions under Section 401(a)(9) of the Internal Revenue Code and take precedence over any inconsistent provisions of the Plan; provided, however, that these provisions are intended solely to reflect the requirements of Section 401(a)(9) of the Internal Revenue Code (and accompanying Treasury regulations) and are not intended to provide or expand (and shall not be construed as providing or expanding) any benefit or distribution option not otherwise expressly provided for under the terms of the Plan. The provisions of this Section shall apply only to the extent required under Section 401(a)(9) of the Internal Revenue Code as applied to a governmental plan and if any special rules for governmental plans are not set forth herein, such special rules are hereby incorporated by reference and shall for all purposes be deemed a part of the Plan.
Minimum Distribution Requirement. Notwithstanding any other provision of this Plan, payment of benefits due under this Plan must begin to be paid to the Participant upon the later of April 1 of the calendar year following the calendar year in which Participant (a) attains age 70 1/2 or (b) the Participant actually retires. Notwithstanding anything contained herein to the contrary, all distributions made pursuant to the terms of this Plan shall com- ply with the requirements of Section 401(a)(9) of the Internal Revenue Code (and accompa- nying Treasury Regulations), which requirements are hereby incorporated by reference into this Plan and for all purposes shall be deemed a part of the Plan.
Minimum Distribution Requirement. The amount to be dis- tributed each year, beginning with the first calendar year for which distributions are required and then for each succeeding calendar year, must not be less than the quotient obtained by dividing your Account balance by the applicable distribution period. The applicable distribution period for required minimum distributions for calendar years up to and including the calendar year of your death is determined using the Uniform Lifetime Table in Q&A-2 of section 1.401(a)(9)-9 of the Income Tax Regulations for your age as of your birthday in the distribution calendar year. However, if your sole designated Beneficiary is your spouse, and your spouse is more than ten years younger than you, then you may use the joint life expectancy of you and your spouse, as set forth in the Joint and Last Survivor Table in Q& A-3 of Section 1.401(a)(9)-9 of the Income Tax Regulations, using your age and your spouse’s age as of the birthdays in the distribution calendar year.