Common use of Minimum Required Distributions Clause in Contracts

Minimum Required Distributions. With respect to any eFunds or iDLX Employee who, as of the Distribution Date, is employed past the "required beginning date" (as defined in section 401(a)(9) of the Code) as applied to such Employee, eFunds shall be solely responsible for ensuring that distributions continue to be made from such Employee's account under the eFunds 401(k) Plan in accordance with the relevant method of distribution selected under the Deluxe 401(k) Plan, the Deluxe PSP or the Deluxe MPP, as the case may be. With respect to any eFunds or iDLX Employee who has attained age seventy and one-half (70-1/2) and has elected to defer distribution until retirement pursuant to Section 1.5 of the Deluxe 401(k) Plan, Section 1.4 of the Deluxe PSP or Section 1.4 of the Deluxe MPP, as the case may be, eFunds shall be solely responsible for ensuring that distributions commence as of such Employee's required beginning date.