Common use of Determination of Amount to be Distributed Clause in Contracts

Determination of Amount to be Distributed. Each Year: If the Participant's Accrued Benefit is to be distributed in other than a single sum, the following minimum distribution rules shall apply on or after the Required Beginning Date: (a) If a Participant's Accrued Benefit is to be distributed over(l) a period not extending beyond the life expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant's designated beneficiary or (2) a period not extending beyond the life expectancy of the designated beneficiary, the amount required to be distributed for each calendar year, beginning with distributions for the first distribution calendar year, must at least equal the quotient obtained by dividing the Participant's Accrued Benefit by the applicable life expectancy. (b) For calendar years beginning before January 1, 1989, if the Participant's spouse is not the designated beneficiary, the method of distribution selected must assure that at least 50% of the Accrued Benefit is paid within the life expectancy of the Participant. (c) For calendar years beginning after December 31, 1988, the amount to be distributed each year, beginning with distributions for the first distribution calendar year shall not be less than the quotient obtained by dividing the participant's Accrued Benefit by the lesser of ( 1 ) the applicable life expectancy or (2) if the Participant's Spouse is not the designated beneficiary, the applicable divisor determined from the table set forth in Q&A - of Section 1.401(a)(9~2 of the Proposed Treasury Regulations. Distributions after the death of the Participant shall be distributed using the applicable life expectancy in Section 9.04(a) above as the relevant divisor without regard to Proposed Treasury Regulations Section 1 .401 (a)(9)-2. (1) The minimum distribution required for the Participant's first distribution calendar year must be made on or before the Participant's Required Beginning Date. The minimum distribution for other calendar years, including the minimum distribution for the distribution calendar year in which the Employee's Required Beginning Date occurs, must be made on or before December 31 of that distribution calendar year. (2) For purposes of determining a Participant's minimum distribution, if any portion of the minimum distribution for the first distribution calendar year is made in the second distribution calendar year on or before the required beginning date, the amount of the minimum distribution made in the second distribution calendar year shall be treated as if it had been made in the immediately preceding distribution calendar year.

Determination of Amount to be Distributed. Each Year: . If the Participant's Accrued Benefit interest is to be distributed in other than a single sum, the following minimum distribution rules shall apply on or after the Required Beginning Date: (ai) If a Participant's Accrued Benefit benefit is to be distributed over(lover (A) a period not extending beyond the life expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant's designated beneficiary or , (2B) a period not extending beyond the life expectancy of the designated beneficiaryDesignated Beneficiary, the amount required to be distributed for each calendar year, beginning with distributions for the first distribution calendar yearDistribution Calendar Year, must at least equal the quotient obtained by dividing the Participant's Accrued Benefit benefit by the applicable life expectancyApplicable Life Expectancy. (bii) For calendar years beginning before January 1, 1989, if the Participant's spouse is not the designated beneficiary, the method of distribution selected must assure that at least 50% of the Accrued Benefit is paid within the life expectancy of the Participant. (c) For calendar years beginning after December 31, 1988, the The amount to be distributed each year, beginning with distributions for the first distribution calendar year Distribution Calendar Year, shall not be less than the quotient obtained by dividing the participantParticipant's Accrued Benefit benefit by the lesser of ( 1 ) the applicable life expectancy or (2) if the Participant's Spouse is not the designated beneficiary, the applicable divisor determined from the table set forth in Q&A - of Section 1.401(a)(9~2 of the Proposed Treasury Regulations. Distributions after the death of the Participant shall be distributed using the applicable life expectancy in Section 9.04(a) above as the relevant divisor without regard to Proposed Treasury Regulations Section 1 .401 (a)(9)-2Applicable Life Expectancy. (1iii) The minimum distribution required for the Participant's first distribution calendar year Distribution Calendar Year must be made on or before the Participant's Required Beginning Date. The minimum distribution for other calendar years, including the minimum distribution for the distribution calendar year Distribution Calendar Year in which the EmployeeParticipant's Required Beginning Date occurs, must be made on or before December 31 of that distribution calendar yearDistribution Calendar Year. (2iv) For purposes of determining a If the Participant's minimum distributionbenefit is distributed pursuant to Option B in the form of an annuity purchased from an insurance company, if any portion distributions thereunder shall be made in accordance with the requirements of Section 401(a)(9) of the minimum distribution for Code and the first distribution calendar year is made in the second distribution calendar year on or before the required beginning date, the amount of the minimum distribution made in the second distribution calendar year shall be treated as if it had been made in the immediately preceding distribution calendar yearproposed regulations promulgated thereunder.