Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiary, determined as follows: (1) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year. (2) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years after the year of the surviving spouse’s death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar year. (3) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiary, the designated beneficiary’s remaining life expectancy is calculated using the age of the beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 9 contracts
Samples: Trust Agreement (Nordson Corp), 401(k) Plan Adoption Agreement (Americas Carmart Inc), Adoption Agreement (LSB Bancshares Inc /Nc/)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryDesignated Beneficiary, the minimum amount that will be distributed for each distribution calendar year Distribution Calendar Year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiaryDesignated Beneficiary, determined as follows:
(1) The Participant’s remaining life expectancy is calculated in accordance with the Single Life Table found in Regulations Section 1.401(a)(9)-9, Q&A-1, using the age of the Participant in the year of death, reduced by one (1) for each subsequent year.
(2) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiaryDesignated Beneficiary, the remaining life expectancy of the surviving spouse Spouse is calculated in accordance with the Single Life Table found in Regulations Section 1.401(a)(9)-9, Q&A-1, for each distribution calendar year Distribution Calendar Year after the year of the Participant’s death using the surviving spouseSpouse’s age as of the spouseSpouse’s birthday in that year. For distribution calendar years Distribution Calendar Years after the year of the surviving spouseSpouse’s death, the remaining life expectancy of the surviving spouse Spouse is calculated using the age of the surviving spouse Spouse as of the spouseSpouse’s birthday in the calendar year of the spouseSpouse’s death, reduced by one (1) for each subsequent calendar year.
(3) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiaryDesignated Beneficiary, the designated beneficiaryDesignated Beneficiary’s remaining life expectancy is calculated under the Single Life Table using the age of the beneficiary Beneficiary in the year following the year of the Participant’s death, reduced by one (1) for each subsequent year.
Appears in 7 contracts
Samples: Defined Contribution Plan, Defined Contribution Plan (1st Constitution Bancorp), Defined Contribution Plan (Wellesley Bancorp, Inc.)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account Account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiary, determined as follows:
(1i) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2ii) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years after the year of the surviving spouse’s death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar year.
(3iii) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiary, the designated beneficiary’s remaining life expectancy is calculated using the age of the beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 7 contracts
Samples: 401(k) Retirement Savings Plan (Lsi Industries Inc), Retirement Plan (Lsi Industries Inc), Retirement Plan (Lsi Industries Inc)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryDesignated Beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiaryDesignated Beneficiary, determined as follows:
(1I) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2II) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryDesignated Beneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years after the year of the surviving spouse’s death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar year.
(3III) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryDesignated Beneficiary, the designated beneficiaryDesignated Beneficiary’s remaining life expectancy is calculated using the age of the beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 4 contracts
Samples: Custodial Account Agreement, Custodial Account Agreement, 403(b)(7) and Roth 403(b)(7) Custodial Account Agreement
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s 's death is the quotient obtained by dividing the Participant’s 's account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s 's designated beneficiary, determined as follows:
(1) The Participant’s 's remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2) If the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s 's death using the surviving spouse’s 's age as of the spouse’s 's birthday in that year. For distribution calendar years after the year of the surviving spouse’s 's death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s 's birthday in the calendar year of the spouse’s 's death, reduced by one for each subsequent calendar year.
(3) If the Participant’s 's surviving spouse is not the Participant’s 's sole designated beneficiary, the designated beneficiary’s 's remaining life expectancy is calculated using the age of the beneficiary in the year following the year of the Participant’s 's death, reduced by one for each subsequent year.
Appears in 3 contracts
Samples: 401(k) Plan Adoption Agreement (Allegiant Travel CO), Non Standardized 401(k) Profit Sharing Plan (Aceto Corp), Employee Stock Ownership Plan Amendment (Sanderson Farms Inc)
Participant Survived by Designated Beneficiary. If the Participant participant dies on or after the date distributions begin and there is a designated beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participantparticipant’s death is the quotient obtained by dividing the Participantparticipant’s account balance by the longer of the remaining life expectancy of the Participant participant or the remaining life expectancy of the Participantparticipant’s designated beneficiary, determined as follows:
(1i) The Participantparticipant’s remaining life expectancy is calculated using the age of the Participant participant in the year of death, reduced by one for each subsequent year.
(2ii) If the Participantparticipant’s surviving spouse is the Participantparticipant’s sole designated beneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participantparticipant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years after the year of the surviving spouse’s death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar year.
(3iii) If the Participantparticipant’s surviving spouse is not the Participantparticipant’s sole designated beneficiary, the designated beneficiary’s remaining life expectancy is calculated using the age of the beneficiary in the year following the year of the Participantparticipant’s death, reduced by one for each subsequent year.
Appears in 3 contracts
Samples: Individual 401(k) Plan Purchase Agreement, Employer Sponsored Plan Account Agreement, Employer Sponsored Plan Account Agreement
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryBeneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s 's death is the quotient obtained by dividing the Participant’s 's account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s 's designated beneficiaryBeneficiary, determined as follows:
(1) The Participant’s 's remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2) If the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiaryBeneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s 's death using the surviving spouse’s 's age as of the spouse’s 's birthday in that year. For distribution calendar years after the year of the surviving spouse’s 's death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s 's birthday in the calendar year of the spouse’s 's death, reduced by one for each subsequent calendar year.
(3) If the Participant’s 's surviving spouse is not the Participant’s 's sole designated beneficiaryBeneficiary, the designated beneficiary’s Beneficiary's remaining life expectancy is calculated using the age of the beneficiary Beneficiary in the year following the year of the Participant’s 's death, reduced by one for each subsequent year.
Appears in 2 contracts
Samples: Corporate Plan Document (Axsys Technologies Inc), Retirement Plan Adoption Agreement (Hudson City Bancorp Inc)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryDesignated Beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s 's account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiaryDesignated Beneficiary, determined as follows:
(1I) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2II) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryDesignated Beneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years after the year of the surviving spouse’s death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar year.
(3III) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryDesignated Beneficiary, the designated beneficiaryDesignated Beneficiary’s remaining life expectancy is calculated using the age of the beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 2 contracts
Samples: 403(b) Plan Account Application, 403(b) Plan Account Establishment
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryBeneficiary, the minimum amount that will be distributed for each distribution calendar year Distribution Calendar Year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiaryBeneficiary, determined as follows:
(1) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiaryBeneficiary, the remaining life expectancy of the surviving spouse Spouse is calculated for each distribution calendar year Distribution Calendar Year after the year of the Participant’s death using the surviving spouseSpouse’s age as of the spouseSpouse’s birthday in that year. For distribution calendar years Distribution Calendar Years after the year of the surviving spouseSpouse’s death, the remaining life expectancy of the surviving spouse Spouse is calculated using the age of the surviving spouse Spouse as of the spouseSpouse’s birthday in the calendar year of the spouseSpouse’s death, reduced by one for each subsequent calendar year.
(3) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiaryBeneficiary, the designated beneficiarydesigned Beneficiary’s remaining life expectancy is calculated using the age of the beneficiary Beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 2 contracts
Samples: Defined Contribution Plan (Georgetown Bancorp, Inc.), Defined Contribution Plan (Chicopee Bancorp, Inc.)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryBeneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account Account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiaryBeneficiary, determined as follows:
(1) a. The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2) b. If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryBeneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years after the year of the surviving spouse’s death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar year.
(3) c. If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryBeneficiary, the designated beneficiaryBeneficiary’s remaining life expectancy is calculated using the age of the beneficiary Beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 2 contracts
Samples: Employee Stock Ownership Plan and Trust Agreement (Bancfirst Corp /Ok/), Employee Stock Ownership Plan and Trust Agreement (Bancfirst Corp /Ok/)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account Account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiary, determined as follows:
(1i) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2ii) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiary, the remaining life expectancy of the surviving spouse Spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving spouseSpouse’s age as of the spouseSpouse’s birthday in that year. For distribution calendar years after the year of the surviving spouseSpouse’s death, the remaining life expectancy of the surviving spouse Spouse is calculated using the age of the surviving spouse Spouse as of the spouseSpouse’s birthday in the calendar year of the spouseSpouse’s death, reduced by one for each subsequent calendar year.
(3iii) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiary, the designated beneficiary’s remaining life expectancy is calculated using the age of the beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 2 contracts
Samples: 401(k) Plan (Pepsiamericas Inc/Il/), Salaried 401(k) Plan (Pepsiamericas Inc/Il/)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryDesignated Beneficiary, the minimum amount that will be distributed for each distribution calendar year Distribution Calendar Year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance Account Balance by the longer of the remaining life expectancy Life Expectancy of the Participant or the remaining life expectancy Life Expectancy of the Participant’s designated beneficiaryDesignated Beneficiary, determined as follows:
(1i) The Participant’s remaining life expectancy Life Expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2ii) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryDesignated Beneficiary, the remaining life expectancy Life Expectancy of the surviving spouse is calculated for each distribution calendar year Distribution Calendar Year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years Distribution Calendar Years after the year of the surviving spouse’s death, the remaining life expectancy Life Expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar year.
(3iii) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryDesignated Beneficiary, the designated beneficiaryDesignated Beneficiary’s remaining life expectancy is calculated using the age of the beneficiary Beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: 457 Governmental Deferred Compensation Plan and Trust
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryDesignated Beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account Account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiaryDesignated Beneficiary, determined as follows:
(1i) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2ii) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryDesignated Beneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years after the year of the surviving spouse’s death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar year.
(3iii) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryDesignated Beneficiary, the designated beneficiaryDesignated Beneficiary’s remaining life expectancy is calculated using the age of the beneficiary Designated Beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 1 contract
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryBeneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s 's death is the quotient obtained by dividing the Participant’s account 's Company Contributions Account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s 's designated beneficiaryBeneficiary, determined as follows:
(1) . The Participant’s 's remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2) . If the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiaryBeneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s 's death using the surviving spouse’s 's age as of the spouse’s 's birthday in that year. For distribution calendar years after the year of the surviving spouse’s 's death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s 's birthday in the calendar year of the spouse’s 's death, reduced by one for each subsequent calendar year.
(3) . If the Participant’s 's surviving spouse is not the Participant’s 's sole designated beneficiaryBeneficiary, the designated beneficiary’s Beneficiary's remaining life expectancy is calculated using the age of the beneficiary Beneficiary in the year following the year of the Participant’s 's death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: Employee Stock Ownership Plan and Trust Agreement (Third Century Bancorp)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryBeneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s 's death is the quotient obtained by dividing the Participant’s 's account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s 's designated beneficiaryBeneficiary, determined as follows:
(1) The the Participant’s 's remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
; (2) If if the Participant’s 's surviving spouse Spouse is the Participant’s sole designated beneficiaryBeneficiary, the remaining life expectancy of the surviving spouse Spouse is calculated for each distribution calendar year after the year of the Participant’s 's death using the surviving spouse’s Spouse's age as of the spouse’s Spouse's birthday in that year. For distribution calendar years after the year of the surviving spouse’s Spouse's death, the remaining life expectancy of the surviving spouse Spouse is calculated using the age of the surviving spouse Spouse as of the spouse’s Spouse's birthday in the calendar year of the spouse’s Spouse's death, reduced by one for each subsequent calendar year.
(3) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiary, the designated beneficiary’s remaining life expectancy is calculated using the age of the beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.; and
Appears in 1 contract
Participant Survived by Designated Beneficiary. (A) If the Participant dies on or after the date distributions begin and there is a designated beneficiaryDesignated Beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance by the longer of the remaining life expectancy of the Participant participant or the remaining life expectancy of the Participant’s designated beneficiaryDesignated Beneficiary, determined as follows:
(1I) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2II) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryDesignated Beneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years after the year of the surviving spouse’s death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar year.
(3III) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryDesignated Beneficiary, the designated beneficiaryBeneficiary’s remaining life expectancy is calculated using the age of the beneficiary Beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: Profit Sharing Plan Adoption Agreement (Southern National Bancorp of Virginia Inc)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of of’ the Participant’s designated beneficiary, determined as followsFollows:
(1) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary, . the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years after the year of the surviving spouse’s death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar year.
(3) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiary, the designated beneficiary’s remaining life expectancy is calculated using the age of the beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: Adoption Agreement (Talbots Inc)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s 's death is the quotient obtained by dividing the Participant’s 's account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s 's designated beneficiary, determined as follows:
(1a) The Participant’s 's remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2b) If the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s 's death using the surviving spouse’s 's age as of the spouse’s 's birthday in that year. For distribution calendar years after the year of the surviving spouse’s 's death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s 's birthday in the calendar year of the spouse’s 's death, reduced by one for each subsequent calendar year.
(3c) If the Participant’s 's surviving spouse is not the Participant’s 's sole designated beneficiary, the designated beneficiary’s 's remaining life expectancy is calculated using the age of the beneficiary in the year following the year of the Participant’s 's death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: Plan Document and Trust Agreement (Stonepath Group Inc)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryBeneficiary, the minimum amount that will be distributed for each distribution calendar year Distribution Calendar Year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiaryBeneficiary, determined as follows:: .
(1) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiaryBeneficiary, the remaining life expectancy of the surviving spouse Spouse is calculated for each distribution calendar year Distribution Calendar Year after the year of the Participant’s death using the surviving spouseSpouse’s age as of the spouseSpouse’s birthday in that year. For distribution calendar years Distribution Calendar Years after the year of the surviving spouseSpouse’s death, the remaining life expectancy of the surviving spouse Spouse is calculated using the age of the surviving spouse Spouse as of the spouseSpouse’s birthday in the calendar year of the spouseSpouse’s death, reduced by one for each subsequent calendar year.
(3) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiaryBeneficiary, the designated beneficiaryBeneficiary’s remaining life expectancy is calculated using the age of the beneficiary Beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: 401(k) Defined Contribution Plan (Measurement Specialties Inc)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryBeneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account Account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiaryBeneficiary, determined as follows:
(1A) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2B) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiaryBeneficiary, the remaining life expectancy of the surviving spouse Spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving spouseSpouse’s age as of the spouseSpouse’s birthday in that year. For distribution calendar years after the year of the surviving spouseSpouse’s death, the remaining life expectancy of the surviving spouse Spouse is calculated using the age of the surviving spouse Spouse as of the spouseSpouse’s birthday in the calendar year of the spouseSpouse’s death, reduced by one for each subsequent calendar year.
(3C) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiaryBeneficiary, the designated beneficiaryBeneficiary’s remaining life expectancy is calculated using the age of the beneficiary Beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: Retirement Savings Plan (PNC Financial Services Group Inc)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryDesignated Beneficiary, the minimum amount that will be distributed for each distribution calendar year Distribution Calendar Year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance Account Balance by the longer of the remaining life expectancy Life Expectancy of the Participant or the remaining life expectancy Life Expectancy of the Participant’s designated beneficiaryDesignated Beneficiary, determined as follows:
(1i) The Participant’s remaining life expectancy Life Expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2ii) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiaryDesignated Beneficiary, the remaining life expectancy Life Expectancy of the surviving spouse Spouse is calculated for each distribution calendar year Distribution Calendar Year after the year of the Participant’s death using the surviving spouseSpouse’s age as of the spouseSpouse’s birthday in that year. For distribution calendar years Distribution Calendar Years after the year of the surviving spouseSpouse’s death, the remaining life expectancy Life Expectancy of the surviving spouse Spouse is calculated using the age of the surviving spouse Spouse as of the spouseSpouse’s birthday in the calendar year of the spouseSpouse’s death, reduced by one for each subsequent calendar year.
(3iii) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiaryDesignated Beneficiary, the designated beneficiaryDesignated Beneficiary’s remaining life expectancy Life Expectancy is calculated using the age of the beneficiary Beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: 401(k) Plan (ING U.S., Inc.)
Participant Survived by Designated Beneficiary. If the Participant Member dies on or after the date distributions begin and there is a designated beneficiaryDesignated Beneficiary, the minimum amount that will be distributed for each distribution calendar year Distribution Calendar Year after the year of the Participant’s Member's death is the quotient obtained by dividing the Participant’s account balance 's Account Balance by the longer of the remaining life expectancy Life Expectancy of the Participant Member or the remaining life expectancy Life Expectancy of the Participant’s designated beneficiaryMember's Designated Beneficiary, determined as follows:
(1) The Participant’s Member's remaining life expectancy Life Expectancy is calculated using the age of the Participant Member in the year of death, reduced by one for each subsequent year.
(2) If the Participant’s Member's surviving spouse is the Participant’s Member's sole designated beneficiaryDesignated Beneficiary, the remaining life expectancy Life Expectancy of the surviving spouse is calculated for each distribution calendar year Distribution Calendar Year after the year of the Participant’s Member's death using the surviving spouse’s 's age as of the spouse’s 's birthday in that year. For distribution calendar years Distribution Calendar Years after the year of the surviving spouse’s 's death, the remaining life expectancy Life Expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s 's birthday in the calendar year of the spouse’s 's death, reduced by one for each subsequent calendar year.
(3) If the Participant’s Member's surviving spouse is not the Participant’s Member's sole designated beneficiaryDesignated Beneficiary, the designated beneficiary’s Designated Beneficiary's remaining life expectancy Life Expectancy is calculated using the age of the beneficiary in the year following the year of the Participant’s Member's death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: First Amendment to Eog Resources, Inc. Savings Plan (Eog Resources Inc)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryBeneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiaryBeneficiary, determined as follows:
(1i) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2ii) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryBeneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years after the year of the surviving spouse’s death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar year.
(3iii) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryBeneficiary, the designated beneficiaryBeneficiary’s remaining life expectancy is calculated using the age of the beneficiary Beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: Investment, Savings and Employee Stock Ownership Plan (Toro Co)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryDesignated Beneficiary, the minimum amount that will shall be distributed for each distribution calendar year Distribution Calendar Year after the year of the Participant’s 's death is the quotient obtained by dividing the Participant’s account balance 's Account Balance by the longer of the remaining life expectancy Life Expectancy of the Participant or the remaining life expectancy Life Expectancy of the Participant’s designated beneficiary's Designated Beneficiary, determined as follows:
(1I) The Participant’s 's remaining life expectancy Life Expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2II) If the Participant’s 's surviving spouse Spouse is the Participant’s 's sole designated beneficiaryDesignated Beneficiary, the remaining life expectancy Life Expectancy of the surviving spouse Spouse is calculated for each distribution calendar year Distribution Calendar Year after the year of the Participant’s 's death using the surviving spouse’s Spouse's age as of the spouse’s Spouse's birthday in that year. For distribution calendar years Distribution Calendar Years after the year of the surviving spouse’s Spouse's death, the remaining life expectancy Life Expectancy of the surviving spouse Spouse is calculated using the age of the surviving spouse Spouse as of the spouse’s Spouse's birthday in the calendar year of the spouse’s Spouse's death, reduced by one for each subsequent calendar year.
(3III) If the Participant’s 's surviving spouse Spouse is not the Participant’s 's sole designated beneficiaryDesignated Beneficiary, the designated beneficiary’s Designated Beneficiary's remaining life expectancy Life Expectancy is calculated using the age of the beneficiary Designated Beneficiary in the year following the year of the Participant’s 's death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: Fund Office Retirement Profit Sharing Plan and Trust (Chestnut Street Exchange Fund)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryDesignated Beneficiary, the minimum amount that will be distributed for each distribution calendar year Distribution Calendar Year after the year of the Participant’s 's death is the quotient obtained by dividing the Participant’s account balance RMD Account Balance by the longer of the remaining life expectancy Life Expectancy of the Participant or the remaining life expectancy Life Expectancy of the Participant’s designated beneficiary's Designated Beneficiary, determined as follows:
(1) The Participant’s 's remaining life expectancy Life Expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2) If the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiaryDesignated Beneficiary, the remaining life expectancy Life Expectancy of the surviving spouse is calculated for each distribution calendar year Distribution Calendar Year after the year of the Participant’s 's death using the surviving spouse’s 's age as of the spouse’s 's birthday in that year. For distribution calendar years Distribution Calendar Years after the year of the surviving spouse’s 's death, the remaining life expectancy Life Expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s 's birthday in the calendar year of the spouse’s 's death, reduced by one for each subsequent calendar year.
(3) If the Participant’s 's surviving spouse is not the Participant’s 's sole designated beneficiaryDesignated Beneficiary, the designated beneficiary’s Designated Beneficiary's remaining life expectancy Life Expectancy is calculated using the age of the beneficiary Beneficiary (DEFINED TERM) in the year following the year of the Participant’s 's death, reduced by one for each subsequent year.
Appears in 1 contract
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiary, the minimum amount that will must be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiary, determined as follows:
(1A) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2B) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years after the year of the surviving spouse’s death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar year.
(3C) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiary, the designated beneficiary’s remaining life expectancy is calculated using the age of the beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 1 contract
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryDesignated Beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account 's Account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiaryDesignated Beneficiary, determined as follows:
(1I) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2II) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryDesignated Beneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years after the year of the surviving spouse’s death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar year.
(3III) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryDesignated Beneficiary, the designated beneficiaryDesignated Beneficiary’s remaining life expectancy is calculated using the age of the beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: 403(b)(7) Retirement Plan Custodial Account Agreement
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiary, determined as follows:
(1i) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2ii) If the Participant’s surviving spouse is the Participant’s sole designated beneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years after the year of the surviving spouse’s death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar year.
(3iii) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiary, the designated beneficiary’s remaining life expectancy is calculated using the age of the beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: Unionville Water Company Money Purchase Pension Plan Amendment (Connecticut Water Service Inc / Ct)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryBeneficiary, the minimum amount that will be distributed dis- tributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account Account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiaryBeneficiary, determined as follows:
(1A) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2B) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryBeneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving sur- viving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years after the year of the surviving surviv- ing spouse’s death, the remaining life expectancy of the surviving sur- viving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar cal- endar year.
(3C) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryBeneficiary, the designated beneficiaryBeneficiary’s remaining life expectancy is calculated using the age of the beneficiary Beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: Retirement Plan Agreement
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryDesignated Beneficiary, the minimum amount that will be distributed for each distribution calendar year Distribution Calendar Year after the year of the Participant’s 's death is the quotient obtained by dividing the Participant’s account balance 's Valuation Account Balance by the longer of the remaining life expectancy Life Expectancy of the Participant or the remaining life expectancy Life Expectancy of the Participant’s designated beneficiary's Designated Beneficiary, determined as follows:
(1I) The Participant’s 's remaining life expectancy Life Expectancy is calculated using the age of the Participant in the year of the Participant’s death, reduced by one year for each subsequent yearyear after the Participant’s death.
(2II) If the Participant’s 's surviving spouse Spouse is the Participant’s 's sole designated beneficiaryDesignated Beneficiary, the remaining life expectancy Life Expectancy of the surviving spouse Spouse is calculated for each distribution calendar year Distribution Calendar Year after the year of the Participant’s 's death using the surviving spouse’s Spouse's age as of the spouse’s Spouse's birthday in that year. For distribution calendar years Distribution Calendar Years after the year of the surviving spouse’s Spouse's death, the remaining life expectancy Life Expectancy of the surviving spouse Spouse is calculated using the age of the surviving spouse Spouse as of the spouse’s Spouse's birthday in the calendar year of the spouse’s Spouse's death, reduced by one year for each subsequent later calendar year.
(3III) If the Participant’s 's surviving spouse Spouse is not the Participant’s 's sole designated beneficiaryDesignated Beneficiary, the designated beneficiary’s Designated Beneficiary's remaining life expectancy Life Expectancy is calculated using the age of the beneficiary Designated Beneficiary in the year following the year of the Participant’s 's death, reduced by one year for each subsequent later year.
Appears in 1 contract
Samples: 401(k) Plan
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryDesignated Beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s 's death is the quotient obtained by dividing the Participant’s 's account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiary's Designated Beneficiary, determined as follows:
(1i) The the Participant’s 's remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2ii) If if the Participant’s 's surviving spouse is the Participant’s 's sole designated beneficiaryDesignated Beneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s 's death using the surviving spouse’s 's age as of the spouse’s 's birthday in that year. For distribution calendar years after the year of the surviving spouse’s 's death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s 's birthday in the calendar year of the spouse’s 's death, reduced by one for each subsequent calendar year.
(3iii) If if the Participant’s 's surviving spouse is not the Participant’s 's sole designated beneficiaryDesignated Beneficiary, the designated beneficiary’s Designated Beneficiary's remaining life expectancy is calculated using the age of the beneficiary in the year following the year of the Participant’s 's death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: 401(k) Compensation Deferral Savings Plan Amendment (Corvas International Inc)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryBeneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account Company Contributions Account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s designated beneficiaryBeneficiary, determined as follows:
(1) The Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryBeneficiary, the remaining life expectancy of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years after the year of the surviving spouse’s death, the remaining life expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar year.
(3) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryBeneficiary, the designated beneficiaryBeneficiary’s remaining life expectancy is calculated using the age of the beneficiary Beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: Employee Stock Ownership Plan and Trust Agreement (Union Community Bancorp)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryBeneficiary, the minimum amount that will be distributed for each distribution calendar year Distribution Calendar Year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance Account Balance by the longer of the remaining life expectancy Life Expectancy of the Participant or the remaining life expectancy Life Expectancy of the Participant’s designated beneficiaryBeneficiary, determined as follows:
(1A) The Participant’s remaining life expectancy Life Expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2B) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiaryBeneficiary, the remaining life expectancy Life Expectancy of the surviving spouse Spouse is calculated for each distribution calendar year Distribution Calendar Year after the year of the Participant’s death using the surviving spouseSpouse’s age as of the spouseSpouse’s birthday in that year. For distribution calendar years Distribution Calendar Years after the year of the surviving spouseSpouse’s death, the remaining life expectancy Life Expectancy of the surviving spouse Spouse is calculated using the age of the surviving spouse Spouse as of the spouseSpouse’s birthday in the calendar year of the spouseSpouse’s death, reduced by one for each subsequent calendar year.
(3C) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiaryBeneficiary, the designated beneficiaryBeneficiary’s remaining life expectancy Life Expectancy is calculated using the age of the beneficiary Beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: Retirement Plan (Ametek Inc/)
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryDesignated Beneficiary, the minimum amount that will shall be distributed for each distribution calendar year Distribution Calendar Year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s account balance Account Balance by the longer of the remaining life expectancy Life Expectancy of the Participant or the remaining life expectancy Life Expectancy of the Participant’s designated beneficiaryBeneficiary, determined as follows:
(1i) The Participant’s remaining life expectancy Life Expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2ii) If the Participant’s surviving spouse is the Participant’s sole designated beneficiaryBeneficiary, the remaining life expectancy Life Expectancy of the surviving spouse is calculated for each distribution calendar year Distribution Calendar Year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years Distribution Calendar Years after the year of the surviving spouse’s death, the remaining life expectancy Life Expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar year.
(3iii) If the Participant’s surviving spouse is not the Participant’s sole designated beneficiaryBeneficiary, the designated beneficiaryBeneficiary’s remaining life expectancy Life Expectancy is calculated using the age of the beneficiary Beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: Retirement Plan and Trust Agreement
Participant Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated beneficiaryBeneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s 's death is the quotient obtained by dividing the Participant’s 's account balance by the longer of the remaining life expectancy of the Participant or the remaining life expectancy of the Participant’s 's designated beneficiaryBeneficiary, determined as follows:
(1A) The Participant’s 's remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
(2B) If the Participant’s 's surviving spouse Spouse is the Participant’s 's designated sole designated beneficiaryBeneficiary, the remaining life expectancy of the surviving spouse Spouse is calculated for each distribution calendar year after the year of the Participant’s 's death using the surviving spouse’s Spouse's age as of the spouse’s Spouse's birthday in that year. For distribution calendar years after the year of the surviving spouse’s Spouse's death, the remaining life expectancy of the surviving spouse Spouse is calculated using the age of the surviving spouse Spouse as of the spouse’s Spouse's birthday in the calendar year of the spouse’s Spouse's death, reduced by one for each subsequent calendar year.
(3C) If the Participant’s 's surviving spouse Spouse is not the Participant’s 's sole designated beneficiaryBeneficiary, the designated beneficiary’s Beneficiary's remaining life expectancy is calculated using the age of the beneficiary Beneficiary in the year following the year of the Participant’s 's death, reduced by one for each subsequent year.
Appears in 1 contract
Samples: 401(k) Plan (Integra Bank Corp)
Participant Survived by Designated Beneficiary. If the Participant dies or is presumed deceased on or after the date distributions begin and there is a designated beneficiaryDesignated Beneficiary, the minimum amount that will be distributed for each distribution calendar year Distribution Calendar Year after the year of the Participant’s death or presumed death is the quotient obtained by dividing the Participant’s account balance Account Balance by the longer of the remaining life expectancy Life Expectancy of the Participant or the remaining life expectancy Life Expectancy of the Participant’s designated beneficiaryBeneficiary, determined as follows:
(1i) The Participant’s remaining life expectancy Life Expectancy is calculated using the age of the Participant in the year of death or presumed death, reduced by one for each subsequent year.
(2ii) If the Participant’s surviving spouse Spouse is the Participant’s sole designated beneficiaryBeneficiary, the remaining life expectancy Life Expectancy of the surviving spouse Spouse is calculated for each distribution calendar year Distribution Calendar Year after the year of the Participant’s death or presumed death using the surviving spouseSpouse’s age as of the spouseSpouse’s birthday in that year. For distribution calendar years Distribution Calendar Years after the year of the surviving spouseSpouse’s death or presumed death, the remaining life expectancy Life Expectancy of the surviving spouse Spouse is calculated using the age of the surviving spouse Spouse as of the spouseSpouse’s birthday in the calendar year of the spouseSpouse’s death or presumed death, reduced by one for each subsequent calendar year.
(3iii) If the Participant’s surviving spouse Spouse is not the Participant’s sole designated beneficiaryBeneficiary, the designated beneficiaryBeneficiary’s remaining life expectancy Life Expectancy is calculated using the age of the beneficiary Beneficiary in the year following the year of the Participant’s death or presumed death, reduced by one for each subsequent year.
Appears in 1 contract
