DISTRIBUTIONS DURING ANNUITANT'S LIFE Sample Clauses

DISTRIBUTIONS DURING ANNUITANT'S LIFE. GENERAL Notwithstanding any provision of this Contract to the contrary, the distribution of the Annuitant's interest in the Contract shall be made in accordance with the requirements of IRC Sections 401(a)(9) and 408(b)(3) and the regulations thereunder, the provisions of which are herein incorporated by reference. If distributions are not made in the form of an annuity on an irrevocable basis (except for acceleration), then distribution of the interest in the Contract, as described below, must satisfy the requirements of IRC Section 408(a)(6) and the regulations thereunder, rather than this Part and paragraphs (c) and (d) of Part 11 of this Contract. The required minimum distribution for this Contract may be withdrawn from another Individual Retirement Account in accordance with Q&A-9 of Section 1.408-8 of the Income Tax Regulations. There is no required distribution during the life of the Annuitant if this Contract is issued as a Xxxx XXX as indicated in the Type of Contract on the Specifications Page. INTEREST IN THE CONTRACT Unless otherwise provided under applicable federal tax law, the "interest" in the Contract includes the amount of any outstanding rollover, transfer, and recharacterization under Q&As-7 and -8 of Section 1.408-8 of the Income Tax Regulations. Also, prior to the date that annuity payments commence on an irrevocable basis (except for acceleration), the "interest" in the Contract includes the actuarial value of any other benefits provided under the Contract, such as guaranteed death benefits or the Lifetime Income Benefit.
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DISTRIBUTIONS DURING ANNUITANT'S LIFE. Distributions under this Contract must commence by April 1 of the calendar year following the later of: (a) the calendar year the Annuitant attains age 70 1/2 or (b) the calendar year in which the Annuitant retires. Payments shall be made over: (a) the life of the Annuitant or the lives of the Annuitant and his or her designated Beneficiary (within the meaning of Section 401(a)(9) of the Code); or (b) a period certain not extending beyond the life expectancy of the Annuitant or the joint and last survivor expectancy of the Annuitant and his or her designated Beneficiary. If payments under an Annuity Option in the Contract are to be made for a definite or fixed period, said period cannot, at the time payments are to commence, exceed the life expectancy of the Annuitant or, if applicable, the joint and last survivor expectancy of the Annuitant and a designated Beneficiary, nor may it exceed the applicable maximum period under Section 1.401(a)(9)-2 of the Proposed Income Tax Regulations. Payments must be made in periodic payments at intervals of no longer than one year. In addition, payments must either be nonincreasing or may increase only as provided in Q&A F-3 of section 1.401(a)(9)-1 of the Proposed Income Tax Regulations. NEL-398 (05/01) -------------------------------------------------------------------------------- All distributions under this Contract are subject to the distribution requirements of section 403(b)(10) of the Code and will be made in accordance with the requirements of section 401(a)(9) of the Code, including the incidental death benefit requirements of section 401(a)(9)(G) of the Code, and the regulations thereunder, including the minimum distribution incidental benefit requirement of section 1.401(a)(9)-2 of the Proposed Income Tax Regulations.
Sample 1
DISTRIBUTIONS DURING ANNUITANT'S LIFE. A. Unless otherwise permitted under applicable law, the Annuitant’s entire interest in the Contract shall be distributed, or commence to be distributed, no later than the Required Beginning Date over:
Sample 1
DISTRIBUTIONS DURING ANNUITANT'S LIFE. GENERAL Notwithstanding any provision of this Certificate to the contrary, the distribution of the Annuitant's interest in the Certificate shall be made in accordance with the requirements of IRC Sections 401(a)(9) and 408(b)(3) and the regulations thereunder, the provisions of which are herein incorporated by reference. If distributions are not made in the form of an annuity on an irrevocable basis (except for acceleration), then distribution of the interest in the Certificate, as described below, must satisfy the requirements of IRC Section 408(a)(6) and the regulations thereunder, rather than this Part and paragraphs (c) and (d) of Part 11 of this Certificate. The required minimum distribution for this Certificate may be withdrawn from another Individual Retirement Account in accordance with Q&A-9 of Section 1.408-8 of the Income Tax Regulations. There is no required distribution during the life of the Annuitant if this Certificate is issued as a Xxxx XXX as indicated in the Type of Certificate on the Specifications Page. INTEREST IN THE CERTIFICATE Unless otherwise provided under applicable federal tax law, the "interest" in the Certificate includes the amount of any outstanding rollover, transfer, and recharacterization under Q&As-7 and -8 of Section 1.408-8 of the Income Tax Regulations. Also, prior to the date that annuity payments commence on an irrevocable basis (except for acceleration), the "interest" in the Certificate includes the actuarial value of any other benefits provided under the Certificate, such as guaranteed death benefits or the Lifetime Income Benefit.
Sample 1

Related to DISTRIBUTIONS DURING ANNUITANT'S LIFE

  • Distributions During Lifetime (a) Notwithstanding any provision of this Agreement to the contrary, the distribution of the Participant’s interest in the Custodial Account shall be made in accordance with the requirements of Code Section 408(a)(6) and the regulations thereunder, the provisions of which are herein incorporated by reference. If distributions are made from an annuity contract purchased from an insurance company, distributions thereunder must satisfy the requirements of Q&A-4 of Section 1.401(a)(9)-6 of the Income Tax Regulations, rather than paragraphs (b), (c) and (d) below and Section 5.2. The required minimum distributions calculated for this XXX may be withdrawn from another XXX of the Participant in accordance with Q&A-9 of Section 1.408-8 of the Income Tax Regulations. If this is an inherited XXX within the meaning of Code Section 408(d)(3)(C), the preceding sentence and paragraphs (b), (c), and (d) below do not apply.

  • Death During Distribution of a Benefit If the Executive dies after any benefit distributions have commenced under this Agreement but before receiving all such distributions, the Bank shall distribute to the Beneficiary the remaining benefits at the same time and in the same amounts they would have been distributed to the Executive had the Executive survived.

  • Death During Payment of a Benefit If the Executive dies after any benefit payments have commenced under Article 2 of this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Beneficiary at the same time and in the same amounts they would have been paid to the Executive had the Executive survived.

  • Distributions on Account of Separation from Service If and to the extent required to comply with Section 409A, no payment or benefit required to be paid under this Agreement on account of termination of the Executive’s employment shall be made unless and until the Executive incurs a “separation from service” within the meaning of Section 409A.

  • Allocations During Period of Liquidation During the period commencing on the first day of the Fiscal Year during which a Dissolution Event occurs and ending on the date on which all of the assets of the Company have been distributed to the Unit Holders pursuant to Section 10.2 of this Agreement (the “Liquidation Period”), the Unit Holders shall continue to share Profits, Losses, gain, loss and other items of Company income, gain, loss or deduction in the manner provided in Article III of this Agreement.

  • Distributions Following Acceleration If the Notes are accelerated after an Event of Default, on each Payment Date starting with the Payment Date relating to the Collection Period in which the Notes are accelerated, the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Bank Accounts and make deposits and payments, to the extent of funds in the Bank Accounts for the related Collection Period, in the following order of priority (pro rata to the Persons within each priority level based on the amounts due except as stated):

  • Death During Benefit Period If the Executive dies after the benefit payments have commenced under this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Executive's beneficiary at the same time and in the same amounts they would have been paid to the Executive had the Executive survived.

  • Death After Separation from Service But Before Benefit Distributions Commence If the Executive is entitled to benefit distributions under this Agreement, but dies prior to the commencement of said benefit distributions, the Bank shall distribute to the Beneficiary the same benefits that the Executive was entitled to prior to death except that the benefit distributions shall commence within thirty (30) days following receipt by the Bank of the Executive’s death certificate.

  • Distribution Limitation Notwithstanding any other provision in this Article 5, the General Partner shall have the power, in its reasonable discretion, to adjust the distributions to the Special Limited Partner to the extent necessary to avoid violations of the “2%/25% Guidelines” as described in the Advisory Agreement.

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