Death Distributions. If you die and you have a designated beneficiary, the balance in your Xxxx XXX will be distributed to your beneficiary over the beneficiary's single life expectancy. These distributions must commence no later than December 31st of the calendar year following the calendar year of your death. However, if your spouse is your sole beneficiary, these distributions are not required to commence until the December 31st of the calendar year you would have attained the age of 70½, if that date is later than the required commencement date in the previous sentence. If you die and you do not have a designated beneficiary, the balance in your Xxxx XXX must be distributed no later than the December 31st of the calendar year that contains the fifth anniversary of your death.
Death Distributions. If you die before your required beginning date and you have a designated beneficiary, the balance in your IRA will be distributed to your beneficiary over the beneficiary's single life expectancy. These distributions must commence no later than December 31st of the calendar year following the calendar year of your death. However, if your spouse is your sole beneficiary, these distributions are not required to commence until the December 31st of the calendar year you would have attained the age of 70 ½ or 72 (see Article IV 4.4 above), if that date is later than the required commencement date in the previous sentence. If you die before your required beginning date and you do not have a designated beneficiary, the balance in your IRA must be distributed no later than the December 31st of the calendar year that contains the fifth anniversary of your death. If you die on or after your required beginning date and you have a designated beneficiary, the balance in your IRA will be distributed to your beneficiary over the longer of the beneficiary's single life expectancy or your remaining life expectancy. These distributions must commence no later than December 31st of the calendar year following the calendar year of your death. If you die on or after your required beginning date and you do not have a designated beneficiary, the balance in your IRA must be distributed over a period that does not exceed your remaining single life expectancy determined in the year of your death reduced by one each year thereafter. However, the required minimum distribution for the calendar year that contains the date of your death is still required to be distributed. Such amount is determined as if you were still alive throughout that year. If your spouse is your sole beneficiary, your spouse may elect to treat your IRA as his or her own IRA, whether you die before or after your required beginning date. If you die after your required beginning date and your spouse elects to treat your IRA as his or her own IRA, any required minimum that has not been distributed for the year of your death must still be distributed to your surviving spouse and then the remaining balance can be treated as your spouse's own IRA.
Death Distributions. (a) If you die, the entire balance in your Xxxx XXX must be distributed no later than December 31st of the year containing the 5th anniversary of your death except to the extent that an election is made to receive distributions in accordance with (i) or
Death Distributions. If you die,
Death Distributions. If you die after your required beginning date, the balance in your IRA will be distributed in a manner which is at least as rapid as the method of distribution being used on the date of your death. If you die before your required beginning date, the balance in your IRA must generally be distributed within 5 years from the date of your death. However your beneficiary(ies) may elect to receive the balance in your account over the single life expectancy of your designated beneficiary if distributions begin no later than the end of the year containing the one year anniversary of your death. In addition, if your only beneficiary is your surviving spouse, distributions need not commence until December 31st of the year you would have attained age 70 1/2.
Death Distributions. If you die, the balance in your Xxxx XXX must generally be distributed no later than December 31st of the year containing the 5th anniversary of your death. However your beneficiary(ies) may elect to receive the balance in your account over the non-recalculated single life expectancy of your designated beneficiary if distributions begin no later than the end of the year containing the one year anniversary of your death. If your spouse is your sole beneficiary, your spouse is automatically deemed to assume your Xxxx XXX as their own Xxxx XXX.
Death Distributions. To the extent not forfeited pursuant to the terms of this Plan, upon the death of the Participant, any benefit to which the Participant would be entitled to (but for his or her death) shall be paid, in any manner as authorized by the Employer in the Joinder Agreement (and if applicable, as elected by the Participant) to the Participant's Beneficiary, or Beneficiaries. To the extent the Participant has not designated Beneficiaries to receive his or her benefits pursuant to this Plan, the Participant's benefits (or the portion thereof not so payable to a Beneficiary) shall be paid to the Participant's estate.
Death Distributions. A Participant’s Beneficiary shall be entitled to receive the Participant’s Account balance in the event of the Participant’s death. A Beneficiary entitled to payment hereunder may elect in what form distributions shall be made, provided that any such distribution form is offered at that time and satisfies the requirements of Sections 457(d) and 401(a)(9) of the Code and regulations applicable thereunder. If a Participant fails to validly designate a Beneficiary prior to his death, or the Beneficiary is not alive at the time of the Participant’s death, the provisions of Section 5.15 shall determine who the Participant’s Beneficiary shall be for purposes of this Section 5.6. Distributions due to death are payable when the Administrator has received satisfactory proof of the Participant’s death, all required tax information and any other required forms.
Death Distributions. In the event of death prior to the commencement of benefits under this Plan, payments shall be made to the designated beneficiary of the participant, or, if none, to his or her surviving spouse, or, if no surviving spouse, to his or her estate. Payments shall be made according to the schedule stated in the agreement. The timing of such payments shall be as described in Section 6 above, as if the participant separated from service on the date of death. In the event of death subsequent to the commencement of benefits under this Plan, payments shall continue to be made according to the schedule stated in the Agreement, and paid to the designated beneficiary of the participant, or, if none, to his or her surviving spouse, or, if no surviving spouse, to his or her estate. The Employer shall maintain record of the participant’s beneficiary designation statement.
Death Distributions. In the event of death prior to the commencement of benefits under this Plan, payments shall be made to the designated beneficiary of the participant, or, if none, to his or her surviving spouse, or, if no surviving spouse, to his or her estate. Such beneficiary may elect, within 60 days from the date of death whether benefits shall be paid in a lump sum or in installments over 5 to 15 years. If no such selection is made within 60 days from the date of death, benefits shall be paid in installments over 15 years. The timing of such payments shall be as in section 7 above, as if the participant severed from employment on the date of death. In the event of death subsequent to the commencement of benefits under this Plan, payment shall continue to be made, according to the schedule previously selected, and paid to the designated beneficiary of the participant, or, if none, to his or her surviving spouse, or, if none, - to his or her estate. However, such beneficiary may select, within 60 days from the date of death, to have the remaining amount paid in a lump sum. If such an election is made, such lump sum payment shall be made within 60 days after the end of the calendar year in which the participant died. Any installment payments due prior to that time shall be paid to such beneficiary in the amount otherwise expected, but shall, of course, reduce the final lump sum payment. The Employer shall maintain record of the participant’s beneficiary designation statement. Notwithstanding any provision of the Plan to the contrary, payments to a beneficiary shall be made in compliance with the requirements of Code sections 401(a)(9) and 457(d) and applicable regulations thereunder.
