Common use of RBD Clause in Contracts

RBD. A Participant's RBD is his/her required beginning date determined as follows: (a) More than 5% owner. A Participant's RBD is the April 1 of the calendar year following the close of the calendar year in which the Participant attains age 70 1/2 if the Participant is a more than 5% owner (as defined in Code §416(i)(B)) as to the Plan Year ending in that calendar year. If a Participant is a more than 5% owner at the close of the relevant Plan year, the Participant may not discontinue RMDs notwithstanding the Participant's subsequent change in ownership status.

RBD. A Participant's RBD is his/her required beginning date determined as follows: (a) More than 5% owner. A Participant's RBD is the April 1 of the calendar year following the close of the calendar year in which the Participant attains age 70 1/2 if the Participant is a more than 5% owner (as defined in Code §416(i)(B)) as to at any time during the Plan Year ending in that calendar year. If a Participant is a more than 5% owner at the close of the relevant Plan yearYear, the Participant may not discontinue RMDs notwithstanding the Participant's subsequent change in ownership status.