Recalculation. If the Participant so elects, the life expectancy of a Participant and/or his spouse may be recalculated no more frequently than annually if such election is irrevocable, is made no later than the date benefits must commence under Section 8.5, and is applicable to all subsequent years. If recalculation is applicable, the life expectancy of the participant or spouse shall be determined using his or her age as of his or her birthday in each succeeding calendar year.
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Samples: 401(k) Retirement Savings Plan (Lsi Industries Inc), Retirement Plan (Lsi Industries Inc), Retirement Plan (Lsi Industries Inc)
Recalculation. If a Beneficiary who was the Participant Participant’s spouse so elects, the life expectancy of a Participant and/or his such spouse may be recalculated no more frequently than annually if such election is irrevocable, is made no later than the date benefits must commence under Section 8.5(c)(2) above, and is applicable to all subsequent years. If recalculation is applicable, the life expectancy of the participant or spouse shall be determined using his or her age as of his or her birthday in each succeeding calendar year.
Appears in 5 contracts
Samples: 401(k) Retirement Savings Plan (Lsi Industries Inc), Retirement Plan (Lsi Industries Inc), Retirement Plan (Lsi Industries Inc)
Recalculation. If a Beneficiary who was the Participant Participant's spouse so elects, the life expectancy of a Participant and/or his such spouse may be recalculated no more frequently than annually if such election is irrevocable, is made no later than the date benefits must commence under Section 8.5(c)(2) above, and is applicable to all subsequent years. If recalculation is applicable, the life expectancy of the participant or spouse shall be determined using his or her age as of his or her birthday in each succeeding calendar year.
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Recalculation. If the Participant so elects, the life expectancy of a Participant and/or his spouse may be recalculated no more frequently than annually if such election is irrevocable, is made no later than the date benefits must commence under Section 8.57.6(d), and is applicable to all subsequent years. If recalculation is applicable, the life expectancy of the participant or spouse shall be determined using his or her age as of his or her birthday in each succeeding calendar year.
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