Recalculation. The Plan Administrator, only upon the Participant's election (under Section 6.02(C)(2)) or the Participant's surviving spouse designated Beneficiary's election, will recalculate the life expectancy of the Participant's surviving spouse not more frequently than annually. However, the Plan Administrator may not recalculate the life expectancy of a nonspouse designated Beneficiary after the Trustee commences payment to the designated Beneficiary. The Plan Administrator will apply this Section 6.02(D) by treating any amount paid to the Participant's child, which becomes payable to the Participant's surviving spouse upon the child's attaining the age of majority, as paid to the Participant's surviving spouse. A surviving spouse designated Beneficiary must elect recalculation under this ss.6.02(D)(3) in writing and on a form the Plan Administrator prescribes not later than the last day of the spouse's first distribution year.
Appears in 2 contracts
Sources: Adoption Agreement (CRH Public LTD Co), Adoption Agreement (Bank of Granite Corp)
Recalculation. The Plan Administrator, only upon the Participant's ’s election (under Section 6.02(C)(2)) or the Participant's ’s surviving spouse designated Beneficiary's ’s election, will recalculate the life expectancy of the Participant's ’s surviving spouse not more frequently than annually. However, the Plan Administrator may not recalculate the life expectancy of a nonspouse designated Beneficiary after the Trustee commences payment to the designated Beneficiary. The Plan Administrator will apply this Section 6.02(D) by treating any amount paid to the Participant's ’s child, which becomes payable to the Participant's ’s surviving spouse upon the child's ’s attaining the age of majority, as paid to the Participant's ’s surviving spouse. A surviving spouse designated Beneficiary must elect recalculation under this ss.6.02(D)(3§6.02(D)(3) in writing and on a form the Plan Administrator prescribes not later than the last day of the spouse's ’s first distribution year.
Appears in 2 contracts
Sources: Defined Contribution Prototype Plan (Trimeris Inc), Defined Contribution Prototype Plan (MSC Software Corp)
Recalculation. The Plan AdministratorAdvisory Committee, only upon the Participant's election (under Section 6.02(C)(2)) or the Participant's surviving spouse designated Beneficiary's Beneficiary election, will recalculate the life expectancy of the Participant's surviving spouse not more frequently than annually. However, the Plan Administrator Advisory Committee may not recalculate the life expectancy of a nonspouse designated Beneficiary after the Trustee commences payment to the designated Beneficiary. The Plan Administrator Advisory Committee will apply this Section 6.02(D) by treating any amount paid to the Participant's child, which becomes payable to the Participant's surviving spouse upon the child's attaining the age of majority, as paid to the Participant's surviving spouse. A surviving spouse designated Beneficiary must elect recalculation under this ss.6.02(D)(3Section 6.02(D)(3) in writing and on a form the Plan Administrator Advisory Committee prescribes not no later than the last day of the spouse's first distribution year.
Appears in 1 contract
Sources: Voluntary Pension and Salary Deferral Plan and Trust Agreement (Flow International Corp)
Recalculation. The Plan Administrator, only upon the Participant's election (under Section 6.02(C)(2)) or the Participant's surviving spouse designated Beneficiary's election, will recalculate the life expectancy of the Participant's surviving spouse not more frequently than annually. However, the Plan Administrator may not recalculate the life expectancy of a nonspouse designated Beneficiary after the Trustee commences payment to the designated Beneficiary. The Plan Administrator will apply this Section 6.02(D) by treating any amount paid to the Participant's child, which becomes payable to the Participant's surviving spouse upon the child's attaining the age of majority, as paid to the Participant's surviving spouse. A surviving spouse designated Beneficiary must elect recalculation under this ss.6.02(D)(3§6.02(D)(3) in writing and on a form the Plan Administrator prescribes not later than the last day of the spouse's first distribution year.
Appears in 1 contract
Sources: 401(k) Plan Adoption Agreement (Petco Animal Supplies Inc)
Recalculation. The Plan Administrator, only upon the Participant's election (under Section 6.02(C)(2)) or the Participant's surviving spouse designated Beneficiary's election, will recalculate the life expectancy of the Participant's surviving spouse not more frequently than annually. However, the Plan Administrator may not recalculate the life expectancy of a nonspouse designated Beneficiary after the Trustee commences payment to the designated Beneficiary. The Plan Administrator will apply this Section 6.02(D) by treating any amount paid to the Participant's child, which becomes payable to the Participant's surviving spouse upon the child's attaining the age of majority, as paid to the Participant's surviving spouse. A surviving spouse designated Beneficiary must elect recalculation under this ss.6.02(D)(3(S)6.02(D)(3) in writing and on a form the Plan Administrator prescribes not later than the last day of the spouse's first distribution year.
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