Common use of Required Minimum Distributions After Participant’s Death Clause in Contracts

Required Minimum Distributions After Participant’s Death. (1) If a 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:

Required Minimum Distributions After Participant’s Death. (1) i. If a the Participant dies on or after the date distributions begin begin, and there is a “designated beneficiary,” Designated Beneficiary, the minimum amount that will be distributed for each “distribution calendar year” Distribution Calendar Year after the year of the Participant’s 's death is the quotient obtained by dividing the Participant’s “account balance” 's Account Balance by the longer of the remaining “life expectancy” Life Expectancy of the Participant or the remaining “life expectancy” Life Expectancy of the Participant’s “designated beneficiary,” 's Designated Beneficiary, determined as follows:

Required Minimum Distributions After Participant’s Death. (1) i. If a the Participant dies on or after the date distributions begin begin, and there is a “designated beneficiary,” Designated Beneficiary, the minimum amount that will be distributed for each “distribution calendar year” Distribution Calendar Year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s “account balance” Account Balance by the longer of the remaining “life expectancy” Life Expectancy of the Participant or the remaining “life expectancy” Life Expectancy of the Participant’s “designated beneficiary,” Designated Beneficiary, determined as follows: