Distributions Upon Death. Upon the death of the Individual, his or her entire interest will be distributed at least as rapidly as follows:
Distributions Upon Death. A distribution upon death will not be covered by this transitional rule unless the information in the designation contains the required information described above with respect to the distributions to be made upon the death of the Participant.
Distributions Upon Death. Upon the death of a Participant, all amounts credited to his or her Account shall be paid, as soon as administratively feasible but no later than ninety (90) days following Participant’s date of death, to his or her beneficiary or beneficiaries, as determined under Article 7 hereof, in a lump sum.
Distributions Upon Death. If a Participant dies prior to distribution of his interest in the Plan, You will approve the amount of the death benefit and advise Us of the following:
Distributions Upon Death. (Article 5.5 of the Plan). If a Participant dies while employed with the Employer, the unpaid portion of his or her Participant’s Account balance, if any, shall be distributed in a single sum.
Distributions Upon Death. (a) If you have commenced irrevocable annuity payments according to one of the plans (A through E) described in your Contract, upon your death, the remaining portion of your interest will continue to be distributed under the annuity payment plan chosen.
Distributions Upon Death. Generally, by December 31 follow- ing the year in which the Participant dies, distributions to the designated Beneficiary (if an individual) must have begun. Generally, the required minimum distribution amount for a Beneficiary will be determined by dividing the Beneficiary’s interest in the Xxxx XXX as of the end of the preceding year by the appropriate number in the Single Life Table found in the IRS Treasury Regulations corresponding to the Beneficiary’s age in the year after the year of the Grantor’s death and reduced by one for each subsequent calendar year. If distribu- tions to an individual Beneficiary have not begun by December 31 following the year in which the Grantor died, the entire account must then be distributed by December 31 of the year containing the fifth anniversary of the Grantor’s death. However, if the Grantor’s sole designated Beneficiary is the Grantor’s surviving spouse, distributions to the surviving spouse must begin by the end of the calendar year following the calen- dar year of the Grantor’s death (or by the end of the calendar year in which the Grantor would have attained age 701⁄2, if later). Distributions will be made over such spouse’s life or the entire interest will be distributed by the end of the calendar year con- taining the fifth anniversary of the Grantor’s death (or of the spouse’s death in the case of the surviving spouse’s death before distributions are required to begin). A special transition rule permits a Beneficiary who did not start receiving distributions as required above to switch to using the Beneficiary’s life expectancy as the distribution period if the amounts that would have been distributed to the Beneficiary based on the Beneficiary’s life expectancy for all years after the Grantor’s death are distributed to the Beneficiary no later than December 31, 2003, or, if earlier, the expiration of the five-year period. If your Beneficiary does not start taking distributions in accor- dance with the above, your Beneficiary may be subject to a penalty tax of 50% on the difference between the minimum required distribution for the taxable year and the amount actu- ally received during such year. Note that the 5-taxable-year-period in force for determining a qualified distribution from the Grantor’s Xxxx XXX, also applies to beneficiary distributions; this 5-taxable-year-period does not restart or change upon death of the Grantor. However, the 5- taxable-year-period for a Xxxx XXX held by an individual as a ...
Distributions Upon Death. (a) Notwithstanding any provision of this Agreement to the contrary, the distribution of a Participant's interest in the Custodial Account shall be made in accordance with the requirements of Code Section 408(a)(6), as modified by Code Section 408A(c) (5), 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 Section 1.401(a)(9)-6 of the Income Tax Regulations (taking into account Code Section 408A(c)(5)), rather than the distribution rules in paragraphs (b),(c) and (d) below.
Distributions Upon Death. If the Participant dies before payments to the Participant have commenced or before all payments to the Participant have been completed, payments shall be made to the Participant’s Beneficiary in accordance with the following rules:
Distributions Upon Death. (Plan Section 6.6(h)) Distributions upon the death of a Participant prior to receiving any benefits shall… ❑ a. be made pursuant to the election of the Participant or beneficiary. ❑ b. begin within 1 year of death for a designated beneficiary and be payable over the life (or over a period not exceeding the life expectancy) of such beneficiary, except that if the beneficiary is the Participant’s spouse, begin prior to December 31st of the year in which the Participant would have attained age 70 ½. ❑ c. be made within 5 (or if lesser ) years of death for all beneficiaries. ❑ d. be made within 5 (or if lesser ) years of death for all beneficiaries, except that if the beneficiary is the Participant’s spouse, begin prior to December 31st of the year in which the Participant would have attained age ❑ 4. the amounts being distributed have accumulated in the Plan for at least two (2) years.
