Common use of Participant Survived by Designated Beneficiary Clause in Contracts

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: (i) 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. (ii) 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. (iii) 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.

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 shall be distributed for each distribution calendar year after the year of the participant’s Participant's death is the quotient obtained by dividing the participant’s account 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 Participant's designated beneficiary, determined as follows: (i) : a The participant’s Participant'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. (ii) . b If the participant’s Participant's surviving spouse is the participant’s 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 Participant'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. (iii) . c If the participant’s Participant's surviving spouse is not the participant’s Participant'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 Participant's death, reduced by one for each subsequent year.

Participant Survived by Designated Beneficiary. If the participant 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 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 beneficiaryBeneficiary, determined as follows: : (i1) The participantthe Participant’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. ; (ii2) If if the participantParticipant’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 participantParticipant’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. ; and (iii3) If if the participantParticipant’s surviving spouse Spouse is not the participantParticipant’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 participantParticipant’s death, reduced by one for each subsequent year.

Participant Survived by Designated Beneficiary. If the participant 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 Participant's death is the quotient obtained by dividing the participant’s 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 Participant's designated beneficiaryBeneficiary, determined as follows: : (i1) The participant’s the Participant'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. ; (ii2) If if the participant’s 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 Participant'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. ; and (iii3) If if the participant’s Participant's surviving spouse Spouse is not the participant’s Participant'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 Participant's death, reduced by one for each subsequent year.

Participant Survived by Designated Beneficiary. If the participant 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 participantParticipant’s death is the quotient obtained by dividing the participantParticipant’s account balance Account Balance by the longer of the remaining life expectancy Life Expectancy of the participant Participant or the remaining life expectancy Life Expectancy of the participantParticipant’s designated beneficiaryDesignated Beneficiary, determined as follows: (i) : A. The participantParticipant’s remaining life expectancy Life Expectancy is calculated using the age of the participant Participant in the year of death, reduced by one for each subsequent year. (ii) . B. If the participantParticipant’s surviving spouse is the participantParticipant’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 participantParticipant’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. (iii) . C. If the participantParticipant’s surviving spouse is not the participantParticipant’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 participantParticipant’s death, reduced by one for each subsequent year.. ii)