Common use of Death Distributions Clause in Contracts

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. If you die before your required beginning date and you have a designated beneficiary, the balance in your SIMPLE IRA will be distributed to your beneficiary over the beneficiary's ’s single life expectancyexpectan- cy. 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)1/2, if that date is later than the required commencement com- mencement 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 SIMPLE 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 des- ignated beneficiary, the balance in your SIMPLE IRA will be distributed to your beneficiary over the longer of the beneficiary's ’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 SIMPLE 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 thereafterdeath. 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 SIMPLE IRA as his or her own SIMPLE 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 SIMPLE IRA as his or her own SIMPLE 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 ’s own SIMPLE IRA.

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 distributions must be distributed made to your beneficiary beneficiary(ies) over the longer of the beneficiary's single life expectancy of your designated beneficiary(ies) or your remaining life expectancy. These distributions must commence no later than December 31st of , fixed in the calendar year following the calendar year of your death, and nonrecalculating in subsequent years. If a beneficiary other than an individual or qualified trust as defined in the Regulations is named, you die on or after will be treated as having no designated beneficiary of your required beginning date and you do IRA for the purpose of determining the distribution period. If your IRA does not have a designated beneficiary, the balance in distributions will begin utilizing your IRA must be distributed over a period that does not exceed your remaining single life expectancy determined in the year of your death expectancy, reduced by one each year thereafter. HoweverIf you die before your required beginning date the entire amount remaining in your Account will, at the required minimum distribution for election of your designated beneficiary(ies), either be distributed by the calendar December 31st of the year that contains containing the date fifth anniversary of your death or be distributed over the remaining life expectancy of your designated beneficiary(ies). If a beneficiary other than an individual or qualified trust as defined in the Regulations is still required to named, you will be distributedtreated as having no designated beneficiary of your IRA for purposes of determining the distribution period. Such amount If there is determined as if you were still alive throughout that yearno designated beneficiary of your IRA, the entire IRA must be distributed by the December 31st of the year containing the fifth anniversary of your death. Your designated beneficiary(ies) must make an election by the December 31st of the year following the year of your death. If no election is made the entire balance of your Account will be distributed over the remaining life expectancy of your designated beneficiary(ies). In such case distributions must commence by the December 31st of the year following the year of your death. If your spouse is your the 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 beneficiary of your death must still be distributed to your surviving spouse and then Account, he or she will generally have the remaining balance can be treated as your spouse's own IRA.following three choices:

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 distributions must be distributed made to your beneficiary beneficiary(ies) over the longer of the beneficiary's single life expectancy of your designated beneficiary(ies) or your remaining life expectancy. These distributions must commence no later than December 31st of , fixed in the calendar year following the calendar year of your death, and nonrecalculating in subsequent years. If a beneficiary other than an individual or qualified trust as defined in the Regulations is named, you die on or after will be treated as having no designated beneficiary of your required beginning date and you do XXX for the purpose of determining the distribution period. If your XXX does not have a designated beneficiary, the balance in distributions will begin utilizing your IRA must be distributed over a period that does not exceed your remaining single life expectancy determined in the year of your death expectancy, reduced by one each year thereafter. HoweverIf you die before your required beginning date the entire amount remaining in your Account will, at the required minimum distribution for election of your designated beneficiary(ies), either be distributed by the calendar December 31st of the year that contains containing the date fifth anniversary of your death or be distributed over the remaining life expectancy of your designated beneficiary(ies). If a beneficiary other than an individual or qualified trust as defined in the Regulations is still required to named, you will be distributedtreated as having no designated beneficiary of your XXX for purposes of determining the distribution period. Such amount If there is determined as if you were still alive throughout that yearno designated beneficiary of your XXX, the entire XXX must be distributed by the December 31st of the year containing the fifth anniversary of your death. Your designated beneficiary(ies) must make an election by the December 31st of the year following the year of your death. If no election is made the entire balance of your Account will be distributed over the remaining life expectancy of your designated beneficiary(ies). In such case distributions must commence by the December 31st of the year following the year of your death. If your spouse is your the 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 beneficiary of your death must still be distributed to your surviving spouse and then Account, he or she will generally have the remaining balance can be treated as your spouse's own IRA.following three choices:

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)1/2, 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.