Common use of Death of IRA Owner Clause in Contracts

Death of IRA Owner. Before January 1, 2020 – Your Designated Beneficiary is determined based on the Beneficiaries designated as of the date of your death, who remains your Beneficiaries as of September 30 of the year following the year of your death. If you die on or after your required beginning date, distributions must be made to your Beneficiaries over the longer of the single life expectancy of your Designated Beneficiaries, or your remaining life expectancy. If a Beneficiary other than a person or qualified trust as defined in the Treasury Regulations is named, you will be treated as having no Designated Beneficiary of your Traditional IRA for purposes of determining the distribution period. If there is no Designated Beneficiary of your Traditional IRA, distributions will commence using your single life expectancy, reduced by one in each subsequent year. If you die before your required beginning date, the entire amount remaining in your account will, at the election of your Designated Beneficiaries, either

Death of IRA Owner. Before January 1, 2020 – Your Designated Beneficiary designated beneficiary is determined based on the Beneficiaries beneficiaries designated as of the date of your death, who remains remain your Beneficiaries beneficiaries as of September 30 of the year following the year of your death. If you die on or after your required beginning date, distributions must be made to your Beneficiaries beneficiaries over the longer of the single life expectancy of your Designated Beneficiariesdesignated beneficiaries, or your remaining life expectancy. If a Beneficiary beneficiary other than a person or qualified trust as defined in the Treasury Regulations is named, you will be treated as having no Designated Beneficiary designated beneficiary of your Traditional IRA for purposes of determining the distribution period. If there is no Designated Beneficiary designated beneficiary of your Traditional IRA, distributions will commence using your single life expectancy, reduced by one in each subsequent year. If you die before your required beginning date, the entire amount remaining in your account will, at the election of your Designated Beneficiariesdesignated beneficiaries, either

Death of IRA Owner. Before January 1, 2020 – 2020—Your Designated Beneficiary designated beneficiary is determined based on the Beneficiaries beneficiaries designated as of the date of your death, who remains remain your Beneficiaries beneficiaries as of September 30 of the year following the year of your death. If you die on or after your required beginning date, distributions must be made to your Beneficiaries beneficiaries over the longer of the single life expectancy of your Designated Beneficiariesdesignated beneficiaries, or your remaining life expectancy. If a Beneficiary beneficiary other than a person or qualified trust as defined in the Treasury Regulations is named, you will be treated as having no Designated Beneficiary designated beneficiary of your Traditional IRA for purposes of determining the distribution period. If there is no Designated Beneficiary designated beneficiary of your Traditional IRA, distributions will commence using your single life expectancy, reduced by one in each subsequent year. If you die before your required beginning date, the entire amount remaining in your account will, at the election of your Designated Beneficiariesdesignated beneficiaries, either

Death of IRA Owner. Before January 1, 2020 – Your Designated Beneficiary designated beneficiary is determined based on the Beneficiaries beneficiary(ies) designated as of the date of your death, who remains remain your Beneficiaries beneficiary(ies) as of September 30 of the year following the year of your death. If you die on or after your required beginning date, distributions must be made to your Beneficiaries beneficiary(ies) over the longer of the single life expectancy of your Designated Beneficiariesdesignated beneficiary(ies), or your remaining life expectancy. If a Beneficiary beneficiary other than a person or qualified trust as defined in the Treasury Regulations is named, you will be treated as having no Designated Beneficiary designated beneficiary of your Traditional IRA for purposes of determining the distribution period. If there is no Designated Beneficiary designated beneficiary of your Traditional IRA, distributions will commence using your single life expectancy, reduced by one in each subsequent year. If you die before your required beginning date, the entire amount remaining in your account will, at the election of your Designated Beneficiariesdesignated beneficiary(ies), either: