Common use of Participant Survived by Designated Beneficiary Clause in Contracts

Participant Survived by Designated Beneficiary. Unless the 5-year rule is elected as provided under Section 5.11.4(B)(5) (in which case distribution of the Participant’s entire interest will be completed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death), if the Participant dies before the date distributions begin and there is a Designated Xxxxxxxxxxx, 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 remaining life expectancy of the Participant’s Designated Beneficiary, determined as provided in Section 5.11.6(A).

Participant Survived by Designated Beneficiary. Unless the 5-year rule is elected as provided under Section 5.11.4(B)(5) (in which case distribution of the Participant’s entire interest will be completed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death), if If the Participant dies before the date distributions begin and there is a Designated XxxxxxxxxxxBeneficiary, 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 remaining life expectancy Life Expectancy of the Participant’s Designated Beneficiary, determined as provided in Section 5.11.6(A(d)(1) above, except to the extent that an election is made to receive distributions in accordance with the 5-year rule under (e) below. Under the 5-year rule, the Participant’s entire interest will be distributed to the Designated Beneficiary by December 31 of the calendar year containing the fifth anniversary of the Participant’s death. ii).