Common use of Automatic Distribution Date Clause in Contracts

Automatic Distribution Date. The Automatic Distribution Date is April 1 of the year that follows the later of (1) the calendar year the Participant attains age 70½ or (2) retires due to a Severance Event. If the Participant postpones the required distribution due in the calendar year he or she attains age 70½ or ▇▇▇▇▇▇ employment, to the Automatic Distribution Date, the second required minimum distribution must be taken by the end of that year. The Participant’s Account will be distributed, or begin to be distributed to the Participant no later than the Participant’s Automatic Distribution Date.

Automatic Distribution Date. The Automatic Distribution Date is April 1 of the year that follows the later of (1) the calendar year the Participant attains age 70½ or (2) retires due to a Severance Se Event. If the Participant postpones the required distribution due in the calendar year he or she attains age 70½ or ▇▇▇▇▇▇ employment, to the Automatic Distribution Date, the second required minimum distribution must be taken by the end of that year. The Participant’s Account will be distributed, or begin to be distributed to the Participant no later than the Participant’s Automatic Distribution Date.