Required Commencement Date means the date that the deferred compensation plan must begin to distribute all or part of an account to a surviving beneficiary.
Required Commencement Date means the April 1 of the calendar year next following the later of the calendar year in which the Participant attains age seventy and one-half (70-1/2) or the calendar year in which his or her Separation Date occurs; provided, however, that the Required Commencement Date of a Participant who is a five percent (5%) owner (as defined in Code Section 416) of an Employer or a Controlled Group Member with respect to the Plan Year ending in the calendar year in which he or she attains age seventy and one-half (70-1/2) shall be April 1 of the next following calendar year.
Required Commencement Date means, with respect to any Participant, a date determined by the Committee for administrative reasons to be the date as of which the Participant’s vested benefit under the Plan (if any such benefit would then exist and not yet have begun to be paid) is to be paid in order to meet the requirements of Section 401(a)(9) of the Code (or, for any Participant who attained age 70-1/2 prior to January 1, 1999, in order to meet the requirements of Code Section 401(a)(9) as in effect before the effect of the Small Business Job Protection Act of 1996 is taken into account), which date shall be subject to the parameters described in the following paragraphs of this Subsection 2.1.28. The provisions of this Subsection 2.1.28 shall not only be effective as of the Effective Amendment Date but shall also, for each Prior Plan that was in effect on January 1, 2003, be effective as of January 1, 2003 with respect to any Plan Year beginning on or after that date.
Examples of Required Commencement Date in a sentence
Distributions to a Participant after his or her Required Commencement Date shall be made in installment payments equal to the minimum amount necessary to meet the requirements of Section 401(a)(9) of the Code.
Distribution of a Participant’s benefits shall be made or commence by his or her Required Commencement Date.
For distributions beginning before the Member’s death, the first Distribution Calendar Year is the calendar year immediately preceding the calendar year that contains the Member’s Required Commencement Date.
If the vested portion of a Participant’s Accounts exceeds $5,000, the Participant (or, in the event of his or her death, his or her surviving spouse) may elect to receive substantially equal installments over a period not to exceed five (5) Plan Years, commencing in any year designated but no later than the applicable Required Commencement Date, with final distribution of all vested Accounts by the fifth year.
Unless the Member’s interest is distributed in the form of an annuity purchased from an insurance company or in a single sum on or before the Required Commencement Date, as of the first Distribution Calendar Year distributions will be made in accordance with Plan Sections 7.05(d)(3) and 7.05(d)(4).
More Definitions of Required Commencement Date
Required Commencement Date has the meaning set forth in Section 2(d)(i).
Required Commencement Date means April 1 of the calendar year next following the later of (a) the calendar year in which the Member attains age 70-1/2 or (b) the calendar year in which the Member’s Termination from Service occurs; provided, however, that the Required Commencement Date of a Member who is a 5-percent owner (as defined in Section 416 of the Code) of a Sponsoring Company or an Affiliated Company in the calendar year in which the Member attains age 70-1/2 shall be April 1 of the calendar year next following the calendar year in which the Member attains age 70-1/2.
Required Commencement Date shall have the meaning set forth in Section 5.6.
Required Commencement Date means the date which is 60 days after the later of October 16, 2001, the date this Lease is properly executed and delivered by Tenant, the date all prepaid rental, Security Deposits and Guaranties required under this Lease are delivered to Landlord, and, if applicable, the date all contingencies, if any, specified in this Lease have been satisfied or waived in writing by Landlord. Landlord and Tenant acknowledge and agree that the Required Commencement Date shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure. Notwithstanding anything herein to the contrary, if Landlord determines in good faith that it will be unable to cause the Commencement Date to occur by the Required Commencement Date, Landlord shall have the right to provide Tenant with written notice (the “Commencement Date Extension Notice”) of such inability, which Commencement Date Extension Notice shall set forth the date on which Landlord reasonably believes that the Commencement Date will occur. Upon receipt of the Commencement Date Extension Notice, Tenant shall have the right to terminate this Lease by providing written notice of termination to Landlord within 5 Business Days after the date of the Commencement Date Extension Notice. If Tenant does not terminate this Lease within such 5 Business Day period, the Required Commencement Date automatically shall be amended to be the date set forth in Landlord’s Commencement Date Extension Notice.
Required Commencement Date means April 1 of the calendar year following the calendar year in which the Member attains the age of seventy and one-half (70-1/2). Notwithstanding the foregoing, the Required Commencement Date for a Member who is not a five percent (5%) owner within the meaning of Section 416(i)(1)(B)(i) of the Code, who attained age seventy and one-half (70-1/2) during 1988, and had not retired by the Effective Date, will be April 1, 1990. In addition, the Required Commencement Date for a Member who attained age seventy and one-half (70-1/2) before January 1, 1988, and who was not a five percent (5%) owner within the meaning of Section 416(i)(1)(B)(i) of the Code during any Plan Year ending with or within the Plan Year in which he reached age sixty-six and one-half (66-1/2) or any subsequent year, is the April 1 following the later of the calendar year in which the Member
Required Commencement Date means, with respect to any Participant, a date determined by the Committee for administrative reasons to be the date on which the Participant's nonforfeitable retirement benefit (if any such benefit would then exist and not yet have begun) is to commence in order to meet the requirements of Section 401(a)(9) of the Code as such requirements are in effect in the first calendar year that the Participant reaches an age which requires the commencement of the Participant's nonforfeitable retirement benefit under such Code Section in such calendar year or the immediately following calendar year. Such date shall be a first day of a month and, for any Participant who has not in a calendar year ending prior to the Effective Amendment Date reached an age which required the commencement of the Participant's nonforfeitable retirement benefit in such calendar year or the immediately following calendar year, and subject to any subsequent changes to Code Section 401(a)(9), shall be in accordance with the following parameters:
Required Commencement Date means April 1 of the calendar year following the calendar year in which the Participant (i) attains the age seventy and one-half (70 1/2) or, if later, (ii) separates from Service. Clause (ii) shall not apply in the case of any Participant who was a five percent (5%) or more owner (within the meaning of Code section 416) in the Plan Year in which he attained age seventy and one-half (70 1/2).