Common use of Required Beginning Date Clause in Contracts

Required Beginning Date. As elected in the Adoption Agreement, the Required Beginning Date will be defined in either subparagraph (a) or (b) below: (a) The Required Beginning Date of a Participant is the April 1 of the calendar year following the calendar year in which the Participant attains age 70½. (b) The Required Beginning Date of a Participant is the April 1 of the calendar year following the calendar year in which the Participant attains age 70½, except that benefit distributions to a Participant [other than a more than five percent (5%) owner] must commence by April 1 of the calendar year following the later of the calendar year in which the Participant attains age 70½ or the calendar year in which the Participant retires. (c) Any participant attaining age 70½ in years after 1995 may elect by April 1 of the calendar year following the year in which the Participant attained age 70½, to defer distributions until the April 1 of the calendar year following the calendar year in which the Participant retires. If no such election is made, the Participant will begin receiving distributions by the April 1 of the calendar year following the year in which the Participant attained age 70½. (d) A Participant is treated as a five percent (5%) or more owner for purposes of this section if such Participant is a more than five percent (5%) owner as defined in Code Section 416 at any time during the Plan Year ending with or within the calendar year in which such owner attains age 70½. Once distributions have begun to a more than five percent (5%) owner under this section, they must continue to be distributed, even if the Participant ceases to be a more than five percent (5%) owner in a subsequent year.

Required Beginning Date. As elected in the Adoption Agreement, the Required Beginning Date will be defined in either subparagraph (a) or (b) below: (a) The Required Beginning Date of a Participant is the April 1 of the calendar year following the calendar year in which the Participant attains age 70½.70 1/2. (b) The Required Beginning Date of a Participant is the April 1 of the calendar year following the calendar year in which the Participant attains age 70½70 1/2, except that benefit distributions to a Participant [other than a more than five percent (5%) or more owner] must commence by April 1 of the calendar year following the later of the calendar year in which the Participant attains age 70½ 70 1/2 or the calendar year in which the Participant retires. (c) Any participant attaining age 70½ 70 1/2 in years after 1995 may elect by April 1 of the calendar year following the year in which the Participant attained age 70½70 1/2, to defer distributions until the April 1 of the calendar year following the calendar year in which the Participant retires. If no such election is made, the Participant will begin receiving distributions by the April 1 of the calendar year following the year in which the Participant attained age 70½.70 1/2. (d) A Participant is treated as a five percent (5%) or more owner for purposes of this section if such Participant is a more than five percent (5%) or more owner as defined in Code Section 416 at any time during the Plan Year ending with or within the calendar year in which such owner attains age 70½. 70 1/2. Once distributions have begun to a more than five percent (5%) or more owner under this section, they must continue to be distributed, even if the Participant ceases to be a more than five percent (5%) or more owner in a subsequent year.

Required Beginning Date. As elected in the Adoption Agreement, the Required Beginning Date will be defined in either subparagraph (a) or (b) below: (a) The Required Beginning Date of a Participant is the April 1 of the calendar year following the calendar year in which the Participant attains age 70½.701/2. (b) The Required Beginning Date of a Participant is the April 1 of the calendar year following the calendar year in which the Participant attains age 70½701/2, except that benefit distributions to a Participant [other than a more than five percent (5%) owner] must commence by April 1 of the calendar year following the later of the calendar year in which the Participant attains age 70½ 701/2 or the calendar year in which the Participant retires. (c) Any participant Participant attaining age 70½ 701/2 in years after 1995 may elect by April 1 of the calendar year following the year in which the Participant attained age 70½701/2, to defer distributions until the April 1 of the calendar year following the calendar year in which the Participant retires. If no such election is made, the Participant will begin receiving distributions by the April 1 of the calendar year following the year in which the Participant attained age 70½.701/2. (d) A Participant is treated as a five percent (5%) or more owner for purposes of this section if such Participant is a more than five percent (5%) owner as defined in Code Section 416 at any time during the Plan Year ending with or within the calendar year in which such owner attains age 70½. 701/2. Once distributions have begun to a more than five percent (5%) owner under this section, they must continue to be distributed, even if the Participant ceases to be a more than five percent (5%) owner in a subsequent year.

Required Beginning Date. As elected in the Adoption Agreement, the Required Beginning Date will be defined in either subparagraph (a) or (b) below: (a) The Required Beginning Date of a Participant is the April 1 of the calendar year following the calendar year in which the Participant attains age 70½. (b) The Required Beginning Date of a Participant is the April 1 of the calendar year following the calendar year in which the Participant attains age 70½, except that benefit distributions to a Participant [other than a more than five percent (5%) or more owner] must commence by April 1 of the calendar year following the later of the calendar year in which the Participant attains age 70½ or the calendar year in which the Participant retires. (c) Any participant attaining age 70½ in years after 1995 may elect by April 1 of the calendar year following the year in which the Participant attained age 70½, to defer distributions until the April 1 of the calendar year following the calendar year in which the Participant retires. If no such election is made, the Participant will begin receiving distributions by the April 1 of the calendar year following the year in which the Participant attained age 70½. (d) A Participant is treated as a five percent (5%) or more owner for purposes of this section if such Participant is a more than five percent (5%) or more owner as defined in Code Section 416 at any time during the Plan Year ending with or within the calendar year in which such owner attains age 70½. Once distributions have begun to a more than five percent (5%) or more owner under this section, they must continue to be distributed, even if the Participant ceases to be a more than five percent (5%) or more owner in a subsequent year.

Required Beginning Date. As elected in the Adoption Agreement, the Required Beginning Date will be defined in either subparagraph (a) or (b) below: (a) The Required Beginning Date of a Participant is the April 1 of the calendar year following the calendar year in which the Participant attains age 70½.701/2. (b) The Required Beginning Date of a Participant is the April 1 of the calendar year following the calendar year in which the Participant attains age 70½701/2, except that benefit distributions to a Participant [other than a more than five percent (5%) or more owner] must commence by April 1 of the calendar year following the later of the calendar year in which the Participant attains age 70½ 701/2 or the calendar year in which the Participant retires. (c) Any participant attaining age 70½ 701/2 in years after 1995 may elect by April 1 of the calendar year following the year in which the Participant attained age 70½701/2, to defer distributions until the April 1 of the calendar year following the calendar year in which the Participant retires. If no such election is made, the Participant will begin receiving distributions by the April 1 of the calendar year following the year in which the Participant attained age 70½.701/2. (d) A Participant is treated as a five percent (5%) or more owner for purposes of this section if such Participant is a more than five percent (5%) or more owner as defined in Code Section 416 at any time during the Plan Year ending with or within the calendar year in which such owner attains age 70½. 701/2. Once distributions have begun to a more than five percent (5%) or more owner under this section, they must continue to be distributed, even if the Participant ceases to be a more than five percent (5%) or more owner in a subsequent year.

Required Beginning Date. As elected in the Adoption Agreement, the Required Beginning Date will be defined in either subparagraph (a) or (b) below: (a) The Required Beginning Date of a Participant is the April 1 of the calendar year following the calendar year in which the Participant attains age 70½.70 1/2. (b) The Required Beginning Date of a Participant is the April 1 of the calendar year following the calendar year in which the Participant attains age 70½70 1/2, except that benefit distributions to a Participant [other than a more than five percent (5%) owner] must commence by April 1 of the calendar year following the later of the calendar year in which the Participant attains age 70½ 70 1/2 or the calendar year in which the Participant retires. (c) Any participant attaining age 70½ 70 1/2 in years after 1995 may elect by April 1 of the calendar year following the year in which the Participant attained age 70½70 1/2, to defer distributions until the April 1 of the calendar year following the calendar year in which the Participant retires. If no such election is made, the Participant will begin receiving distributions by the April 1 of the calendar year following the year in which the Participant attained age 70½.70 1/2. (d) A Participant is treated as a five percent (5%) or more owner for purposes of this section if such Participant is a more than five percent (5%) owner as defined in Code Section 416 at any time during the Plan Year ending with or within the calendar year in which such owner attains age 70½. 70 1/2. Once distributions have begun to a more than five percent (5%) owner under this section, they must continue to be distributed, even if the Participant ceases to be a more than five percent (5%) owner in a subsequent year.