Amount of Distribution. The Contract Holder may elect one of the two payment methods described below. [bullet] Specified Amount: Payments of a designated dollar amount which must be no greater than 10% of the initial Current Value. This amount will remain constant unless a higher amount is required under the Code minimum distribution rules. Each year that the Specified Amount is in effect, Aetna will calculate the minimum required distribution under the Code and distribute this amount if it is larger than the amount elected by the Contract Holder. The life expectancy factor for this purpose will be the Contract Xxxxxx's life expectancy for the initial distribution year and with each subsequent calendar year, the factor will be reduced by one. The minimum required distribution will be determined by dividing the Current Value, including any current loan(s) outstanding, as of December 31 of the year prior to the payment year, by a life expectancy factor. [bullet] Specified Period: Payments which are made over a period of time. The Period must be at least 10 years unless otherwise required by the Code minimum distribution rules. The maximum specified period will be limited by the Code minimum distribution rules. The annual amount paid each year is calculated by dividing the Current Value as of December 31 of the prior year by the number of payment years remaining. The life expectancy factor is either the single life or joint life expectancy, as elected by the Contract Holder, based on tables in the Code or related regulations. If the joint life expectancy is elected, upon either the Contract Xxxxxx's or the spouse's death, the minimum required distribution for the Specified Amount payment method will continue to be calculated in the same manner as described under Specified Amount. These calculations may be changed as necessary to comply with the Code minimum distribution rules. The joint life expectancy factor can only be elected based on the joint life expectancy of the Contract Xxxxxx and his or her spouse. The spouse must be named as the beneficiary of any death benefits under the Contract while SWO is in effect. Upon death, payments will continue in the manner described above under Specified Amount and Specified Period, unless otherwise elected by the beneficiary. Any mode elected by the beneficiary, must provide payments to be made at least as rapidly as those made prior to the Contract Xxxxxx's death.
Amount of Distribution. Each year that XXX is in effect, Aetna will calculate and distribute an amount determined by dividing the Individual Account Current Value as of December 31 of the year prior to the year for which payment is to be made by a life expectancy factor based on expected return multiples in Table V and VI of Section 1.72-9 of the Income Tax Regulations. Payments will be made each year until the year the Participant attains age 70 1/2, or until the Participant dies, if earlier. The Participant may elect either the single or joint life expectancy factor. If the joint life expectancy factor is elected, the second life must be the Beneficiary under the Plan. The life expectancy or joint life expectancy factor will be recalculated each year in accordance with the rules under Code Section 401(a)(9), or reduced by one for each calendar year which has elapsed since the life expectancy was first calculated, as elected by the Participant.
Amount of Distribution. Each year that ECO is in effect, Aetna will calculate and distribute an amount equal to the minimum required distribution under the Code. The annual distribution will be determined by dividing the Individual Account Reserve Value, including any current loan(s) outstanding, as of December 31 of the year prior to the year for which the payment is to be made, by a life expectancy factor. As elected by the Owner, the factor is either the single life or joint life expectancy based on tables in Section 401(a)(9) of the Code or related regulations. If joint life expectancy is elected and the Owner or spouse dies, payments will be calculated based on the survivor's life expectancy. These calculations may be changed as necessary to comply with the Code minimum distribution rules. The joint life expectancy factor can only be elected based on the joint life expectancy of the Owner and his or her spouse, and such spouse must be named as the beneficiary of any death benefits under the Contract while ECO is in effect.
Examples of Amount of Distribution in a sentence
Amount of Distribution Plan Fees--Class C Shares--.75 of 1% of the value of the average daily net assets of Class C.
Amount of Distribution Plan Fees--Class B Shares--.50 of 1% of the value of the average daily net assets of Class B.
Amount of Distribution: The Participant may elect one of the three payment methods described below.
A transfer of a Participant from the Company or any Affiliate to any other Affiliate or the Company shall not be deemed to be a termination of employment with the Company for purposes of this Article VI.6.2 Amount of Distribution.
The monthly average notional values of currency forward contracts traded during the years ended December 31, 2017 and 2016 were $531,535,509 and $545,588,665, respectively.
More Definitions of Amount of Distribution
Amount of Distribution. Each year that ECO is in effect, Aetna will calculate and (CONT'D) distribute an amount equal to the minimum required distribution under the Code. The annual distribution will be determined by dividing the Current Value as of December 31 of the year prior to the payment year, by a life expectancy factor. The Certificate Holder, or spouse Beneficiary if ECO is elected after the Certificate Holder's death, shall elect either single life expectancy or joint life expectancy. Life expectancy is computed by use of the expected return multiples in Tables V and VI of section 1.72-9 of the Income Tax Regulations. Joint life expectancy can only be elected based on the joint life expectancy of the Certificate Holder and his or her Beneficiary. If the Certificate Holder makes any changes in the Beneficiary designation under the Certificate, ECO distributions after the change will be recalculated as required by IRS regulations. Life expectancies shall be recalculated annually. If the joint life expectancy is elected with a non-spouse Beneficiary, the life expectancy of the non-spouse Beneficiary must not be recalculated. Instead, the life expectancy will be calculated using the attained age of the Beneficiary during the calendar year in which the Certificate Holder attains age 70 1/2, and payments for subsequent years shall be recalculated based on such life expectancy reduced by one for each calendar year which has elapsed since the calendar year life expectancy was first calculated. If joint life expectancy is elected with a spouse Beneficiary, at the death of either, the payments can continue and will be calculated based solely on the survivor's life expectancy. If joint life expectancy is elected with a non-spouse Beneficiary and the non- spouse Beneficiary dies first, payments will continue based on the joint life expectancy. If a single life expectancy is elected and the Certificate Holder dies, or if a joint life expectancy is elected and the survivor dies, the death benefits determined under Section 3.12 will be paid to the Beneficiary in a lump sum not later than December 31 following the year of death.
Amount of Distribution. Each year that ECO is in effect, Aetna will calculate and distribute an amount equal to the minimum required distribution under the Code. The annual distribution will be determined by dividing the Individual Account Reserve Value, including any current loan(s) outstanding, as of December 31 of the year prior to the year for which the payment is to be made, by a life expectancy factor. As elected by the Owner, the factor is either the single life or joint life expectancy based on tables in Section 401(a)(9) of the Code or related
Amount of Distribution. The Owner may elect one of the two payment methods described below. [bullet] Specified Amount: Payments of a designated dollar amount which must be no greater than 10% of the initial Reserve Value and shall remain constant unless a higher amount is required under Code minimum distribution rules. Each year that the Specified Amount is in effect, Aetna will calculate the minimum required distribution under the Code and distribute this amount if it is larger than the amount elected by the
Amount of Distribution. Each year that ECO is in effect, Aetna will calculate and distribute an amount equal to the minimum required distribution under the Code. The annual distribution will be determined by dividing the Current Value as of December 31 of the year prior to the payment year, by a life expectancy factor. The Contract Holder, or spouse Beneficiary if ECO is elected after the Contract Holder's death, shall elect either single life expectancy or joint life expectancy. Life expectancy is computed by use of the expected return multiples in Tables V and VI of section 1.72-9 of the Income Tax Regulations. Joint life expectancy can only be elected based on the joint life expectancy of the Contract Holder and his or her Beneficiary. If the Contract Holder makes any changes in the Beneficiary designation under the Contract, ECO distributions after the change will be recalculated as required by IRS regulations.
Amount of Distribution. The Contract Holder may elect one of the three payment methods described below.
Amount of Distribution means the amount that the Trustees determine should be applied to an Approved Recipient:
Amount of Distribution. The Owner may elect one of the two payment methods described below. [bullet] Specified Amount: Payments of a designated dollar amount which must be no greater than 10% of the initial Reserve Value and shall remain constant unless a higher amount is required under Code minimum distribution rules. Each year that the Specified Amount is in effect, Aetna will calculate the minimum required distribution under the Code and distribute this amount if it is larger than the amount elected by the Owner. The life expectancy factor for this purpose will be the Owner's life expectancy at the time of the election of this option, and with each subsequent calendar year the factor will be reduced by one. The minimum required distribution will be determined by dividing the Individual Account Reserve Value, including any current loan(s) outstanding, as of December 31 of the year prior to the year for which the payment is to be made, by a life expectancy factor. At its discretion, Aetna may require a minimum initial payment amount; or [bullet] Specified Period: Payments which are made over a period of time which must be at least 10 years, unless otherwise required by Code minimum distribution rules. The maximum specified period will be limited by the Code minimum distribution rules. The annual amount paid each year is calculated by dividing the Individual Account Reserve Value as of December 31 of the prior year, including any outstanding loan(s), by the number of payment years remaining.