Common use of SPOUSAL BENEFICIARY Clause in Contracts

SPOUSAL BENEFICIARY. If the employee’s sole Beneficiary is the employee’s surviving spouse, withdrawals will be made in accordance with subsection (c)(ii) above, except that the amount to be distributed for any distribution calendar year of the Beneficiary is the balance in the Account as of the end of the preceding calendar year divided by the Beneficiary’s life expectancy determined based upon the Beneficiary’s age at his or her birthday during such distribution calendar year. If the Beneficiary dies before the distribution of the entire Account, then required minimum distributions must continue over a period equal to the remaining life expectancy of the Beneficiary determined as of his or her age on her birthday in the year of his or her death.

SPOUSAL BENEFICIARY. If the employee’s sole Beneficiary is the employee’s surviving sur- viving spouse, withdrawals will be made in accordance with subsection (c)(ii) above, except that the amount to be distributed for any distribution calendar year of the Beneficiary is the balance in the Account as of the end of the preceding pre- ceding calendar year divided by the Beneficiary’s life expectancy determined based upon the Beneficiary’s age at his or her birthday during such distribution distribu- tion calendar year. If the Beneficiary dies before the distribution of the entire Account, then required minimum distributions must continue over a period equal to the remaining life expectancy of the Beneficiary determined as of his or her age on her birthday in the year of his or her death.