Payment Within Life Expectancy Sample Clauses
Payment Within Life Expectancy. The Participant's payment election must be consistent with the requirement of Code section 401(a)(9) that all payments are to be completed within a period not to exceed the lives or the joint and last survivor life expectancy of the Participant and his or her Beneficiary. The life expectancies of a Participant and his or her Beneficiary, if such Beneficiary is his or her spouse, may be recomputed annually.
Payment Within Life Expectancy. The Participant's payment election must be consistent with the requirements of Code section 401(a)(9) and Treasury regulations issued thereunder, including Treasury regulation section 1.401(a)(9)-2, which provisions are incorporated by reference, provided that such provisions shall override the other distribution provisions of the Plan only to the extent that they are inconsistent with such other Plan provisions. All payments are to be completed within a period not to exceed the lives or the joint and last survivor life expectancy of the Participant and his or her Beneficiary. The life expectancies of a Participant and his or her Beneficiary may not be recomputed annually.