REQUIRED DISTRIBUTION DATE Sample Clauses

REQUIRED DISTRIBUTION DATE. Distributions are required to commence to the Participant as of his Required Distribution Date. A Participant's Required Distribution Date is the April 1 of the calendar following the one in which the Participant attains age 70 1/2.
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REQUIRED DISTRIBUTION DATE. Distributions are required to commence to the Participant as of his Required Distribution Date. A Participant's Distribution Date is defined below:
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REQUIRED DISTRIBUTION DATE. The Participant's entire interest in the Plan will be distributed, or begin to be distributed, to the Participant no later than the Participant's Required Distribution Date.
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REQUIRED DISTRIBUTION DATE. April 1 of the calendar year next following the calendar year in which the Owner attains age 70 1/2. The prior sentence is intended only to comply with certain distribution requirements imposed by the Code and Internal Revenue Service regulations and if those requirements are amended or repealed, this Contract shall be deemed amended consistent with such amendment or repeal, and shall be administered in accordance with such amended or repealed Code and Internal Revenue Service regulation requirements without the need to issue an amendment to this Contract. Separate Account A separate account of the Company established and maintained under the laws of the State of New York, to which a portion of the Company’s assets in connection with this Contract and certain other contracts may be allocated. SIMPLE IRA A savings incentive match plan for employees arrangement described in Section 408(p) of the Code. Surviving Spouse The legal spouse of the Owner at the time of the Owner’s death. Underlying Investment Company A management investment company registered under the Investment Company Act of 1940 that has at least one fund or portfolio in which the Separate Account invests. United States Bank A bank or trust company that:
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REQUIRED DISTRIBUTION DATE. Generally, the first day of April of the calendar year after you reach age 70 1/2, or retire, whichever is later. However, for Contract Value as of December 31, 1986, the Required Distribution Date is the last day of the calendar year in which you attain age 75 or retire, whichever is later.
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REQUIRED DISTRIBUTION DATE. April 1 of the calendar year next following the calendar year in which the Owner attains age 70 1/2. The prior sentence is intended only to comply with certain distribution requirements imposed by the Code and Internal Revenue Service regulations and if those requirements are amended or repealed, this Contract shall be deemed amended consistent with such amendment or repeal, and shall be administered in accordance with such amended or repealed Code and Internal Revenue Service regulation requirements without the need to issue an amendment to this Contract. SEP IRA A simplified employee pension arrangement described in Section 408(k) of the Code.
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REQUIRED DISTRIBUTION DATE. Distribution to any Participant (whether employed by an Employer, retired or otherwise terminated) must be made no later than April 1 following the calendar year in which he reaches age 70-1/2 in accordance with the minimum distribution rules of Section 401(a)(9) of the Code and the regulations promulgated thereunder; provided, however, that in the case of a Participant who attained age 70-1/2 prior to January 1, 1988, distribution may be delayed until April 1 following the calendar year in which he retires if such Participant is not a 5% owner.
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Related to REQUIRED DISTRIBUTION DATE

  • Required Distributions Generally, when you die, designated beneficiary(ies) who are individuals may elect to deplete the Xxxx XXX by the end of the fifth calendar year following your death or to receive payments based on the designated beneficiary(ies)’s life expectancy. If life expectancy payments are elected, the payments must generally begin by December 31 of the first calendar year following your death. If your surviving spouse is your sole designated beneficiary, he or she may delay the first distribution until December 31 of the year you would have attained age 70½, if later. If your designated beneficiary is not an individual or qualified trust (e.g., a charity, your estate, etc.), your Xxxx XXX must be distributed by the end of the fifth calendar year following your death. Generally, each beneficiary may elect the timing and manner regarding the distribution of his or her portion of the Xxxx XXX. Elections must generally be made by December 31 of the year following your death. If timely elections are not made, distributions to designated beneficiaries who are individuals will be made using the life expectancy option. The default provision for designated beneficiaries that are not individuals is the 5-year method. If your beneficiary(ies) fails to withdraw the required amount in any tax year, he or she may be subject to a 50% excess accumulation penalty tax on the amount that should have been withdrawn but was not distributed. If your surviving spouse is the sole designated beneficiary of your Xxxx XXX, he/she may treat your Xxxx XXX as his or her own Xxxx XXX by redesignating your Xxxx XXX as his or her own Xxxx XXX, failing to take a required distribution as a beneficiary, or by making a contribution. Regardless of whether your spouse is your sole designated beneficiary, he or she may roll distributions from your Xxxx XXX into his or her own Xxxx XXX generally within 60 days of receipt. Additional restrictions may apply. CUSTODIAN NOT YOUR ADVISOR UMB Bank, n.a., UMB Distribution Services, LLC, Grand Distributions Services, LLC, and UMB Fund Services, Inc. expressly disclaim any right, duty, authority or responsibility to furnish legal or tax advice relating to your IRA, including but not limited to present or future tax consequences to you or others which may result from the establishment or maintenance of the Custodial Account, the permissible amounts or deductibility of contributions, the effect of withdrawals, the selection of payment options or beneficiaries, any matters pertaining to prohibited transactions, and any other matter whatsoever. You are advised and encouraged to consult with professional counsel of your own selection respecting all such matters.

  • Distribution Date 13 DTC...........................................................................................13

  • Distribution Compliance Period The Purchaser agrees not to resell, pledge or transfer any Purchased Shares within the United States or to any U.S. Person, as each of those terms is defined in Regulation S, during the 40 days following the Closing Date.

  • Qualified Distributions Qualified distributions from your Xxxx XXX (both the contributions and earnings) are not included in your income. A qualified distribution is a distribution which is made after the expiration of the five-year period beginning January 1 of the first year for which you made a contribution to any Xxxx XXX (including a conversion from a Traditional IRA), and is made on account of one of the following events. • Attainment of age 59½ • Disability • First-time homebuyer purchase • Death For example, if you made a contribution to your Xxxx XXX for 2007, the five-year period for determining whether a distribution is a qualified distribution is satisfied as of January 1, 2012.

  • Final Distribution The liquidator will distribute any assets remaining after the discharge or accommodation of the Company’s debts, obligations and liabilities to the Member.

  • Primary Distribution Discount Notes shall be issued and settled through the Fed Book-Entry System in same-day funds and shall be held by designated Fed Participants. After initial issue, all Discount Notes shall continue to be held by such Fed Participants in the Fed Book-Entry System unless arrangements are made for the transfer thereof to other Fed Participants. Discount Notes shall not be exchangeable for definitive Discount Notes.

  • Certificate Distribution Account The Certificate Distribution Account shall be established as a non-interest bearing trust account pursuant to Section 4.1 of the Sale and Servicing Agreement. Funds on deposit in the Certificate Distribution Account shall be held uninvested. The Certificateholders shall possess all beneficial right, title and interest in and to all funds on deposit from time to time in the Certificate Distribution Account and all proceeds thereof. Except as otherwise provided herein, in the Indenture or in the Sale and Servicing Agreement, the Certificate Distribution Account shall be under the sole dominion and control of the Certificate Paying Agent for the benefit of the Certificateholders. If, at any time, the Certificate Distribution Account ceases to be an Eligible Account, the Servicer on behalf of the Issuer, shall, within ten (10) Business Days (or such longer period) after becoming aware of the fact, establish a new Certificate Distribution Account as an Eligible Account and shall direct the Certificate Paying Agent to transfer any cash then on deposit in the Certificate Distribution Account to such new Certificate Distribution Account.

  • Restricted Distributions Notwithstanding any provision to the contrary contained in this Agreement, neither the Partnership nor the General Partner, on behalf of the Partnership, shall make a distribution to any Holder if such distribution would violate the Act or other applicable law.

  • REMIC Distributions On each Distribution Date the Trustee shall be deemed to have allocated distributions to the REMIC I Regular Interests, REMIC II Regular Interests, Class CE Interest, Class P Interest and Class IO Interest in accordance with Section 5.07 hereof.

  • Payments from the Gross Settlement Amount The Administrator will make and deduct the following payments from the Gross Settlement Amount, in the amounts specified by the Court in the Final Approval:

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