REQUIRED DISTRIBUTION DATE. Distributions are required to commence to the Participant as of his Required Distribution Date. A Participant's Distribution Date is defined below: (a) with respect to the portion of a Participant's Account under the contract consisting of (i) contributions made by or on behalf of such Participant on or before December 31, 1986 and (ii) income credited to such contributions as of December 31, 1986, a Participant's Required Distribution Date is the last day of the year in which the Participant attains age 75, regardless of whether or not such Participant has terminated his employment with the employer sponsoring the Plan or Salary-Annuity Agreement arrangement under the contract GVA-120-87 (10/11) (as modified by Group Annuity Amendment Form GPA-7764) Serial 400 4.1-4.2 (b) with respect to the remaining portion of a Participant's Account under the contract, a Participant's Required Distribution Date is: (i) with respect to any Participant who attained age 70 1/2 before January 1, 1988, the April 1 of the calendar year following the one in which the later of (A) the Participant's termination of employment with the employer sponsoring the Plan or Salary-Annuity Agreement arrangement under the contract or (B) the Participant's attainment of age 70 1/2 occurs; (ii) with respect to any Participant who attained age 70 1/2 during 1988 and who had not terminated employment with the employer sponsoring the Plan or Salary-Annuity Agreement arrangement under the contract as of January 1, 1989, April 1, 1990: and (iii) with respect to all other Participants, the April 1 of the calendar year following the one in which the Participant attains age 70 1/2 regardless of whether or not such Participant has terminated his employment with the employer sponsoring the Plan or Salary-Annuity Agreement arrangement under the contract. If the plan funded under the contract is a church or governmental plan, as defined in the Code, the Required Distribution Date for a Participant covered under such plan with respect to the portion of his Account defined in paragraph (b) above is the Required Distribution Date set forth in subparagraph (b)(i) above. If the Participant's Account includes a transfer contribution made pursuant to paragraph (b) of section 1.1, the Required Distribution Date applicable to such transfer contribution will be determined in accordance with paragraph (b) above, except as provided in the following paragraph. If any portion of the Participant's transfer contribution consists of (i) contributions made by or behalf of the Participant on or before December 31, 1986 and (ii) income credited to such contributions as of December 31, 1986, the Required Distribution Date applicable to such portion will be the Required Distribution Date applicable under the 403(b) program from which such transfer was made, if the following conditions are met: (1) a record of the amount of contributions made on or before December 31, 1986 and income credited to such contributions as of December 31, 1986, must be furnished to Prudential in a form satisfactory to it at the time such transfer is made, and (2) evidence of the Required Distribution Date under the 403(b) program from which the transfer was made must be furnished to Prudential in a form satisfactory to it at the time such transfer is made.
Appears in 2 contracts
Samples: Group Annuity Contract (Prudential Variable Contract Account 10), Group Annuity Contract (Prudential Variable Contract Account 11)
REQUIRED DISTRIBUTION DATE. Distributions are required to commence to the Participant as of his Required Distribution Date. A Participant's Required Distribution Date is defined below:
(a) with respect to the portion of a Participant's Account Accounts under the contract consisting of (i) contributions made by or on behalf of such Participant on or before December 31, 1986 and (ii) income credited to such contributions as of December 31, 1986, a Participant's Required Distribution Date is the last day of the year GVA-120-87 (24) (as modified by Group Annuity Amendment Form GAA-7764) Serial 400 4.1-4.2 in which the Participant attains age 75, regardless of whether or not such Participant has terminated his employment with the employer sponsoring the Plan or Salary-Annuity Agreement arrangement under the contract GVA-120-87 (10/11) (as modified by Group Annuity Amendment Form GPA-7764) Serial 400 4.1-4.2contract.
(b) with respect to the remaining portion of a Participant's Account under the contract, a Participant's Required Distribution Date is:
(i) with respect to any Participant who attained age 70 1/2 before January 1, 1988, the April 1 of the calendar year following the one in which the later of (A) the Participant's termination of employment with the employer sponsoring the Plan or Salary-Annuity Agreement arrangement under the contract or (B) the Participant's attainment of age 70 1/2 occurs;
(ii) with respect to any Participant who attained age 70 1/2 during 1988 and who had not terminated employment with the employer sponsoring the Plan or Salary-Annuity Agreement arrangement under the contract as of January 1, 1989, April 1, 1990: ; and
(iii) with respect to all other Participants, the April 1 of the calendar year following the one in which the Participant attains age 70 1/2 regardless of whether or not such Participant has terminated his employment with the employer sponsoring the Plan or Salary-Annuity Agreement arrangement under the contract. If the plan funded under the contract is a church or governmental plan, as defined in the Code, the Required Distribution Date for a Participant covered under such plan with respect to the portion of his Account defined in paragraph (b) above is the Required Distribution Date set forth in subparagraph (b)(i) above. If any of the Participant's Account Accounts includes a transfer contribution made pursuant to paragraph (b) of section 1.1, the Required Distribution Date applicable to such transfer contribution will be determined in accordance with paragraph (b) above, except as provided in the following paragraph. If any portion of the Participant's transfer contribution consists of (i) contributions made by or behalf of the Participant on or before December 31, 1986 and (ii) income credited to such contributions as of December 31, 1986, the Required Distribution Date applicable to such portion will be the Required Distribution Date applicable under the 403(b) program from which such transfer was made, if the following conditions are met:
(1) a record of the amount of contributions made on or before December 31, 1986 and income credited to such contributions as of December 31, 1986, must be furnished to Prudential in a form satisfactory to it at the time such transfer is made, andand GVA-120-87 (24) (as modified by Group Annuity Amendment Form GAA-7764) Serial 410 4.2
(2) evidence of the Required Distribution Date under the 403(b) program from which the transfer was made must be furnished to Prudential in a form satisfactory to it at the time such transfer is made.
Appears in 1 contract
Samples: Group Annuity Contract (Prudential Variable Contract Account 24)
REQUIRED DISTRIBUTION DATE. Distributions are required to commence to the Participant as of his Required Distribution Date. A Participant's Required Distribution Date is defined below:
(a) with respect to the portion of a Participant's Account Accounts under the contract consisting of (i) contributions made by or on behalf of such Participant on or before December 31, 1986 and (ii) income credited to such contributions as of December 31, 1986, a Participant's Required Distribution Date is the last day of the year GVA-120-87 (24) (as modified by Group Annuity Amendment Form GAA-7764) Serial 400 4.1-4.2 in which the Participant attains age 75, regardless of whether or not such Participant has terminated his employment with the employer sponsoring the Plan or Salary-Annuity Agreement arrangement under the contract GVA-120-87 (10/11) (as modified by Group Annuity Amendment Form GPA-7764) Serial 400 4.1-4.2contract.
(b) with respect to the remaining portion of a Participant's Account under the contract, a Participant's Required Distribution Date is:
(i) with respect to any Participant who attained age 70 1/2 before January 1, 1988, the April 1 of the calendar year following the one in which the later of (A) the Participant's termination of employment with the employer sponsoring the Plan or Salary-Annuity Agreement arrangement under the contract or (B) the Participant's attainment of age 70 1/2 occurs;
(ii) with respect to any Participant who attained age 70 1/2 during 1988 and who had not terminated employment with the employer sponsoring the Plan or Salary-Annuity Agreement arrangement under the contract as of January 1, 1989, April 1, 1990: ; and
(iii) with respect to all other Participants, the April 1 of the calendar year following the one in which the Participant attains age 70 1/2 regardless of whether or not such Participant has terminated his employment with the employer sponsoring the Plan or Salary-Annuity Agreement arrangement under the contract. If the plan funded under the contract is a church or governmental plan, as defined in the Code, the Required Distribution Date for a Participant covered under such plan with respect to the portion of his Account defined in paragraph (b) above is the Required Distribution Date set forth April 1 of the calendar year following the one in subparagraph which the later of (b)(i1) above. If the Participant's Account termination of employment with the employer sponsoring the Plan or Salary-Annuity Agreement arrangement under the contract or (2) the Participant's attainment of age 70 1/2 occurs. Except as provided in the following paragraph, if any of the Participant's Accounts includes a transfer contribution made pursuant to paragraph (b) of section 1.1, the Required Distribution Date applicable to such transfer contribution will be determined in accordance with paragraph (b) above, except as provided in the following paragraph. If any portion of the Participant's transfer contribution consists of (i) contributions made by or behalf of the Participant on or before December 31, 1986 and (ii) income credited to such contributions as of December 31, 1986, the Required Distribution Date applicable to such portion will be the Required Distribution Date applicable under the 403(b) program from which such transfer was made, if the following conditions are met:
(1) a record of the amount of contributions made on or before December 31, 1986 and income credited to such contributions as of December 31, 1986, must be furnished to Prudential in a form satisfactory to it at the time such transfer is made, andand GVA-120-87 (24) (as modified by Group Annuity Amendment Form GAA-7764) Serial 410 4.2
(2) evidence of the Required Distribution Date under the 403(b) program from which the transfer was made must be furnished to Prudential in a form satisfactory to it at the time such transfer is made.
Appears in 1 contract
Samples: Group Annuity Contract (Prudential Variable Contract Account 24)