Common use of Surviving Spouse Is Not Sole Designated Beneficiary Clause in Contracts

Surviving Spouse Is Not Sole Designated Beneficiary. If the designated beneficiary is someone other than the individual’s surviving spouse, the remaining interest will be distributed over the remaining life expectancy of the designated beneficiary, with such life expectancy determined using the beneficiary’s age as of his or her birthday in the year following the year of the individual’s death, or over the period described in paragraph (d)(2)(A)(iii) below if longer.

Surviving Spouse Is Not Sole Designated Beneficiary. If the designated beneficiary is someone other than the individualParticipant’s surviving spouseSpouse is not the Participant’s sole Designated Beneficiary, then the Designated Beneficiary’s remaining interest will be distributed over Life Expectancy is calculated using the remaining life expectancy age of the designated beneficiary, with such life expectancy determined using the beneficiary’s age as of his or her birthday Beneficiary in the year following the year of the individualParticipant’s death, or over the period described in paragraph (d)(2)(A)(iii) below if longerreduced by one for each subsequent calendar year.

Surviving Spouse Is Not Sole Designated Beneficiary. If the designated beneficiary is someone other than the individual’s surviving spouse, the remaining entire interest will be distributed distributed, starting by the end of the calendar year following the calendar year of the individual’s death, over the remaining life expectancy of the designated beneficiary, with such life expectancy determined using the beneficiary’s age of the beneficiary as of his or her birthday in the year following the year of the individual’s death, or over the period described or, if elected, in accordance with paragraph (d)(2)(A)(iiid)(2)(B)(iii) below if longerbelow.