Required Distributions On Or After The Required Beginning Date. If a Participant’s benefit is to be distributed over (i) a period not extending beyond the life expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant’s Beneficiary or (ii) a period not extending beyond the life expectancy of the Beneficiary, the amount required to be distributed for each calendar year, beginning with distributions for the First Distribution Calendar Year, must at least equal the sum obtained by dividing the Participant’s benefit by the Applicable Life Expectancy.
Appears in 5 contracts
Samples: Defined Contribution Plan (FNB United Corp.), Defined Contribution Plan (Chicopee Bancorp, Inc.), Defined Contribution Plan (Idt Corp)
Required Distributions On Or After The Required Beginning Date. If a Participant’s 's benefit is to be distributed over (i) a period not extending beyond the life expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant’s 's Beneficiary or (ii) a period not extending beyond the life expectancy of the Beneficiary, the amount required to be distributed for each calendar year, beginning with distributions for the First Distribution Calendar Year, must at least equal the sum obtained by dividing the Participant’s 's benefit by the Applicable Life Expectancy.
Appears in 2 contracts
Samples: Defined Contribution Plan (Thomasville Bancshares Inc), Defined Contribution Plan (Spheris Leasing LLC)
