{"component": "clause", "props": {"groups": [{"snippet": "You are not required to take distributions from your \u2587\u2587\u2587\u2587 \u2587\u2587\u2587 during your lifetime (as required for Traditional and savings incentive match plan for employees of small employers (SIMPLE) IRAs). However, your beneficiaries generally are required to take distributions from your \u2587\u2587\u2587\u2587 \u2587\u2587\u2587 after your death. See the section titled Beneficiary Payouts in this disclosure statement regarding beneficiaries\u2019 required minimum distributions.", "size": 81, "samples": [{"hash": "5gWRHEgcXhc", "uri": "/contracts/5gWRHEgcXhc#required-minimum-distributions", "label": "Roth Individual Retirement Custodial Account Agreement", "score": 35.8616027832, "published": true}, {"hash": "gHbBtvrUuM5", "uri": "/contracts/gHbBtvrUuM5#required-minimum-distributions", "label": "Roth Individual Retirement Custodial Account Agreement", "score": 34.0144691467, "published": true}, {"hash": "5aCQHmVYhgv", "uri": "/contracts/5aCQHmVYhgv#required-minimum-distributions", "label": "Roth Individual Retirement Account Agreement", "score": 33.3054847717, "published": true}], "snippet_links": [{"key": "not-required", "type": "definition", "offset": [8, 20]}, {"key": "as-required", "type": "clause", "offset": [84, 95]}, {"key": "employees-of", "type": "clause", "offset": [149, 161]}, {"key": "your-beneficiaries", "type": "clause", "offset": [203, 221]}, {"key": "your-death", "type": "clause", "offset": [292, 302]}, {"key": "beneficiary-payouts", "type": "clause", "offset": [327, 346]}, {"key": "disclosure-statement", "type": "definition", "offset": [355, 375]}], "hash": "8a4df75bf287d700d3eec0f961a46e22", "id": 2}, {"snippet": "You are required to take minimum distributions from your IRA at certain times in accordance with Treasury Regulation 1.408-8. Below is a summary of the IRA distribution rules.\n1. If you were born before July 1, 1949, you are required to take a minimum distribution from your IRA for the year in which you reach age 70\u00bd and for each year thereafter. You must take your first distribution by your required beginning date, which is April 1 of the year following the year you attain age 70\u00bd. If you were born on or after July 1, 1949, you are required to take a minimum distribution from your IRA for the year in which you reach age 72 and for each year thereafter. You must take your first distribution by your required beginning date, which is April 1 of the year following the year you attain age 72. The minimum distribution for any taxable year is equal to the amount obtained by dividing the account balance at the end of the prior year by the applicable divisor.\n2. The applicable divisor generally is determined using the Uniform Lifetime Table provided by the IRS. If your spouse is your sole designated beneficiary for the entire calendar year, and is more than 10 years younger than you, the required minimum distribution is determined each year using the actual joint life expectancy of you and your spouse obtained from the Joint Life Expectancy Table provided by the IRS, rather than the life expectancy divisor from the Uniform Lifetime Table. We reserve the right to do any one of the following by your required beginning date.\n(a) Make no distribution until you give us a proper withdrawal request\n(b) Distribute your entire IRA to you in a single sum payment\n(c) Determine your required minimum distribution each year based on your life expectancy calculated using the Uniform Lifetime Table, and pay those distributions to you until you direct otherwise If you fail to remove a required minimum distribution, an additional penalty tax of 50 percent is imposed on the amount of the required minimum distribution that should have been taken but was not. You must file IRS Form 5329 along with your income tax return to report and remit any additional taxes to the IRS.", "size": 98, "samples": [{"hash": "16HkVEtTmn1", "uri": "/contracts/16HkVEtTmn1#required-minimum-distributions", "label": "Individual Retirement Account Custodial Agreement", "score": 31.4321079254, "published": true}, {"hash": "2caPtPjHCgI", "uri": "/contracts/2caPtPjHCgI#required-minimum-distributions", "label": "Individual Retirement Custodial Account Agreement", "score": 29.6666736603, "published": true}, {"hash": "3sXGO8CwI72", "uri": "/contracts/3sXGO8CwI72#required-minimum-distributions", "label": "Individual Retirement Custodial Account Agreement", "score": 29.3863525391, "published": true}], "snippet_links": [{"key": "you-are-required-to", "type": "clause", "offset": [0, 19]}, {"key": "minimum-distributions", "type": "definition", "offset": [25, 46]}, {"key": "in-accordance-with", "type": "clause", "offset": [78, 96]}, {"key": "treasury-regulation", "type": "clause", "offset": [97, 116]}, {"key": "summary-of-the", "type": "clause", "offset": [137, 151]}, {"key": "distribution-rules", "type": "clause", "offset": [156, 174]}, {"key": "the-year", "type": "definition", "offset": [283, 291]}, {"key": "each-year", "type": "definition", "offset": [327, 336]}, {"key": "first-distribution", "type": "definition", "offset": [368, 386]}, {"key": "required-beginning-date", "type": "clause", "offset": [395, 418]}, {"key": "april-1", "type": "definition", "offset": [429, 436]}, {"key": "following-the", "type": "definition", "offset": [449, 462]}, {"key": "after-july-1", "type": "clause", "offset": [511, 523]}, {"key": "taxable-year", "type": "definition", "offset": [833, 845]}, {"key": "equal-to", "type": "definition", "offset": [849, 857]}, {"key": "account-balance", "type": "definition", "offset": [894, 909]}, {"key": "at-the-end-of-the", "type": "clause", "offset": [910, 927]}, {"key": "prior-year", "type": "clause", "offset": [928, 938]}, {"key": "the-applicable", "type": "clause", "offset": [942, 956]}, {"key": "your-spouse", "type": "definition", "offset": [1073, 1084]}, {"key": "designated-beneficiary", "type": "definition", "offset": [1098, 1120]}, {"key": "calendar-year", "type": "definition", "offset": [1136, 1149]}, {"key": "required-minimum-distribution", "type": "clause", "offset": [1199, 1228]}, {"key": "joint-life", "type": "clause", "offset": [1270, 1280]}, {"key": "the-joint", "type": "definition", "offset": [1329, 1338]}, {"key": "life-expectancy-table", "type": "clause", "offset": [1339, 1360]}, {"key": "right-to", "type": "definition", "offset": [1470, 1478]}, {"key": "no-distribution", "type": "clause", "offset": [1549, 1564]}, {"key": "withdrawal-request", "type": "definition", "offset": [1592, 1610]}, {"key": "single-sum-payment", "type": "definition", "offset": [1654, 1672]}, {"key": "based-on", "type": "clause", "offset": [1732, 1740]}, {"key": "distributions-to", "type": "clause", "offset": [1821, 1837]}, {"key": "additional-penalty", "type": "clause", "offset": [1927, 1945]}, {"key": "irs-form", "type": "definition", "offset": [2081, 2089]}, {"key": "return-to", "type": "clause", "offset": [2122, 2131]}, {"key": "additional-taxes", "type": "definition", "offset": [2153, 2169]}], "hash": "7ec78d4f141560bc073c63d7362417a4", "id": 1}, {"snippet": "Your required minimum distribution is calculated using the uniform lifetime table in Regulations section 1.401(a)(9)-9. However, if your spouse is your sole designated beneficiary and is more than 10 years younger than you, your required minimum distribution is calculated each year using the joint and last survivor table in Regulations section 1.401(a)(9)-9. If you fail to request your required minimum distribution by your required beginning date, we can, at our complete and sole discretion, do any one of the following. \u2022 Make no distribution until you give us a proper withdrawal request \u2022 Distribute your entire IRA to you in a single sum payment \u2022 Determine your required minimum distribution from your IRA each year based on your life expectancy, calculated using the uniform lifetime table in Regulations section 1.401(a)(9)-9, and pay those distributions to you until you direct otherwise We will not be liable for any penalties or taxes related to your failure to take a required minimum distribution.", "size": 77, "samples": [{"hash": "2UX7wYZ1eXG", "uri": "/contracts/2UX7wYZ1eXG#required-minimum-distributions", "label": "Individual Retirement Trust Account Agreement", "score": 34.3018913269, "published": true}, {"hash": "2Il8gpjEGKQ", "uri": "/contracts/2Il8gpjEGKQ#required-minimum-distributions", "label": "Individual Retirement Custodial Account Agreement", "score": 32.8799781799, "published": true}, {"hash": "16HkVEtTmn1", "uri": "/contracts/16HkVEtTmn1#required-minimum-distributions", "label": "Individual Retirement Account Custodial Agreement", "score": 31.4321079254, "published": true}], "snippet_links": [{"key": "required-minimum-distribution", "type": "clause", "offset": [5, 34]}, {"key": "your-spouse", "type": "definition", "offset": [132, 143]}, {"key": "designated-beneficiary", "type": "definition", "offset": [157, 179]}, {"key": "each-year", "type": "definition", "offset": [273, 282]}, {"key": "joint-and-last-survivor", "type": "clause", "offset": [293, 316]}, {"key": "to-request", "type": "clause", "offset": [373, 383]}, {"key": "required-beginning-date", "type": "clause", "offset": [427, 450]}, {"key": "sole-discretion", "type": "definition", "offset": [480, 495]}, {"key": "no-distribution", "type": "clause", "offset": [533, 548]}, {"key": "withdrawal-request", "type": "definition", "offset": [576, 594]}, {"key": "single-sum-payment", "type": "definition", "offset": [636, 654]}, {"key": "based-on", "type": "clause", "offset": [726, 734]}, {"key": "life-expectancy", "type": "definition", "offset": [740, 755]}, {"key": "distributions-to", "type": "clause", "offset": [853, 869]}, {"key": "related-to", "type": "definition", "offset": [950, 960]}, {"key": "failure-to-take", "type": "definition", "offset": [966, 981]}], "hash": "0871c3b6eafc742f54b2a921f8c98688", "id": 3}, {"snippet": "You are required to take minimum distributions from your inherited \u2587\u2587\u2587 at certain times in accordance with Treasury Regulation 1.408-8. The calculation of the required minimum distribution is based, in part, on determining the original owner\u2019s designated beneficiary. A designated beneficiary is determined based on the beneficiaries designated as of the date of the original owner\u2019s death, who remain beneficiaries as of September 30 of the year following the year of the original owner\u2019s death. Below is a summary of the inherited \u2587\u2587\u2587 distribution rules.\n1. If the original \u2587\u2587\u2587 owner or employer-sponsored retirement plan participant died on or after the original owner\u2019s required beginning date, distributions must be made to you over the longer of your single life expectancy, or the original owner\u2019s remaining life expectancy. If the original owner\u2019s designated beneficiary was not an individual or qualified trust as defined in the Treasury regulations, the original \u2587\u2587\u2587 or employer-sponsored retirement plan will be treated as having no designated beneficiary for purposes of determining the distribution period. If there is no designated beneficiary of the original \u2587\u2587\u2587 or employer-sponsored retirement plan, distributions will commence using the original owner\u2019s single life expectancy, reduced by one in each subsequent year.\n2. If the original \u2587\u2587\u2587 owner or employer-sponsored retirement plan participant died before the original owner\u2019s required beginning date, the entire amount remaining in the account will, at your election, either\n(a) be distributed by December 31 of the year containing the fifth anniversary of the original owner\u2019s death, or\n(b) be distributed over your remaining life expectancy. As a designated beneficiary of the original owner, you must elect either option (a) or (b) by December 31 of the year following the year of the original owner\u2019s death. If no election is made, the distribution will be calculated in accordance with option (b). In the case of distributions under option (b), distributions must commence by December 31 of the year following the year of the original owner\u2019s death. If the original owner\u2019s designated beneficiary is not an individual or qualified trust as defined in the Treasury regulations, the original \u2587\u2587\u2587 or employer-sponsored retirement plan will be treated as having no designated beneficiaries for purposes of determining the distribution period. If there is no designated beneficiary of the original \u2587\u2587\u2587 or employer-sponsored retirement plan, the entire inherited \u2587\u2587\u2587 must be distributed by December 31 of the year containing the fifth anniversary of the original owner\u2019s death. If you have inherited a qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, or 457(b) governmental deferred compensation plan and have either elected or defaulted to payments under the five-year rule, you may change to a life expectancy payment election if, by December 31 of the year following the year of the original owner\u2019s death, you remove a life expectancy-based payment before rolling over the remaining assets to your inherited \u2587\u2587\u2587.\n3. If you have elected to take life expectancy payments and fail to request your required minimum distribution by December 31, we reserve the right to do any one of the following.\n(a) Make no distribution until you give us a proper withdrawal request\n(b) Distribute your entire inherited \u2587\u2587\u2587 to you in a single sum payment\n(c) Determine your required minimum distribution each year based on your life expectancy calculated using the Single Life Expectancy Table, and pay those distributions to you until you direct otherwise If you fail to remove a required minimum distribution, an additional penalty tax of 50 percent is imposed on the amount of the required minimum distribution that should have been taken but was not. You must file IRS Form 5329 along with your income tax return to report and remit any additional taxes to the IRS.", "size": 17, "samples": [{"hash": "eROmfDylDvK", "uri": "/contracts/eROmfDylDvK#required-minimum-distributions", "label": "Inherited Ira Adoption Agreement", "score": 26.4776268005, "published": true}, {"hash": "f1mo609aktS", "uri": "/contracts/f1mo609aktS#required-minimum-distributions", "label": "Inherited Ira Adoption Agreement", "score": 22.2395610809, "published": true}, {"hash": "emhEiKEaNEY", "uri": "/contracts/emhEiKEaNEY#required-minimum-distributions", "label": "Inherited Ira Adoption Agreement", "score": 21.2484607697, "published": true}], "snippet_links": [{"key": "you-are-required-to", "type": "clause", "offset": [0, 19]}, {"key": "minimum-distributions", "type": "definition", "offset": [25, 46]}, {"key": "in-accordance-with", "type": "clause", "offset": [88, 106]}, {"key": "calculation-of-the", "type": "clause", "offset": [140, 158]}, {"key": "required-minimum-distribution", "type": "clause", "offset": [159, 188]}, {"key": "original-owner", "type": "definition", "offset": [227, 241]}, {"key": "a-designated", "type": "clause", "offset": [268, 280]}, {"key": "based-on", "type": "clause", "offset": [307, 315]}, {"key": "the-beneficiaries", "type": "clause", "offset": [316, 333]}, {"key": "date-of", "type": "clause", "offset": [355, 362]}, {"key": "the-year", "type": "definition", "offset": [438, 446]}, {"key": "following-the", "type": "definition", "offset": [447, 460]}, {"key": "summary-of-the", "type": "clause", "offset": [508, 522]}, {"key": "distribution-rules", "type": "clause", "offset": [537, 555]}, {"key": "plan-participant", "type": "definition", "offset": [619, 635]}, {"key": "required-beginning-date", "type": "clause", "offset": [674, 697]}, {"key": "single-life", "type": "clause", "offset": [757, 768]}, {"key": "remaining-life", "type": "definition", "offset": [805, 819]}, {"key": "an-individual", "type": "clause", "offset": [887, 900]}, {"key": "qualified-trust", "type": "definition", "offset": [904, 919]}, {"key": "treasury-regulations", "type": "definition", "offset": [938, 958]}, {"key": "no-designated-beneficiary", "type": "clause", "offset": [1041, 1066]}, {"key": "for-purposes-of", "type": "clause", "offset": [1067, 1082]}, {"key": "distribution-period", "type": "definition", "offset": [1099, 1118]}, {"key": "beneficiary-of-the", "type": "clause", "offset": [1146, 1164]}, {"key": "subsequent-year", "type": "clause", "offset": [1319, 1334]}, {"key": "the-account", "type": "clause", "offset": [1504, 1515]}, {"key": "by-december", "type": "clause", "offset": [1566, 1577]}, {"key": "fifth-anniversary", "type": "definition", "offset": [1608, 1625]}, {"key": "if-no-election", "type": "clause", "offset": [1884, 1898]}, {"key": "in-the-case", "type": "clause", "offset": [1975, 1986]}, {"key": "under-option", "type": "definition", "offset": [2004, 2016]}, {"key": "designated-beneficiaries", "type": "clause", "offset": [2338, 2362]}, {"key": "qualified-retirement-plan", "type": "definition", "offset": [2673, 2698]}, {"key": "deferred-compensation-plan", "type": "clause", "offset": [2769, 2795]}, {"key": "year-rule", "type": "clause", "offset": [2860, 2869]}, {"key": "change-to", "type": "definition", "offset": [2879, 2888]}, {"key": "payment-election", "type": "definition", "offset": [2907, 2923]}, {"key": "remaining-assets", "type": "clause", "offset": [3072, 3088]}, {"key": "life-expectancy-payments", "type": "clause", "offset": [3143, 3167]}, {"key": "to-request", "type": "clause", "offset": [3177, 3187]}, {"key": "right-to", "type": "definition", "offset": [3254, 3262]}, {"key": "no-distribution", "type": "clause", "offset": [3301, 3316]}, {"key": "withdrawal-request", "type": "definition", "offset": [3344, 3362]}, {"key": "single-sum-payment", "type": "definition", "offset": [3416, 3434]}, {"key": "each-year", "type": "definition", "offset": [3484, 3493]}, {"key": "life-expectancy-table", "type": "clause", "offset": [3552, 3573]}, {"key": "distributions-to", "type": "clause", "offset": [3589, 3605]}, {"key": "additional-penalty", "type": "clause", "offset": [3695, 3713]}, {"key": "irs-form", "type": "definition", "offset": [3849, 3857]}, {"key": "return-to", "type": "clause", "offset": [3890, 3899]}, {"key": "additional-taxes", "type": "definition", "offset": [3921, 3937]}], "hash": "09ec1918c8a1874b32c9b5bd12681c9b", "id": 4}, {"snippet": "You are required to take minimum distributions from your inherited \u2587\u2587\u2587. The options available to you as a beneficiary of a deceased plan participant or deceased \u2587\u2587\u2587 owner are described in Article IV, section 3. A spouse beneficiary will have all rights as granted under the Code or applicable regulations to treat the inherited account as his or her own. If you elect to take life expectancy payments, the payment must be removed each year by December 31. If you have previously made a distribution election with the prior plan or \u2587\u2587\u2587, you may not extend the distribution period for that election by moving it to an inherited \u2587\u2587\u2587. An exception applies if you have inherited a qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, or 457(b) governmental deferred compensation plan, and previously elected or defaulted to the five-year rule. The five-year rule election may be changed to a life expectancy payment election if, by December 31 of the year following the year of the plan participant\u2019s death, you remove a life expectancy-based payment before rolling the remaining assets to your inherited \u2587\u2587\u2587. If you have elected to take life expectancy payments and fail to request your required minimum distribution by December 31, we can, at our complete and sole discretion, do any one of the following. \u2022 Make no distribution until you give us a proper withdrawal request \u2022 Distribute your entire inherited \u2587\u2587\u2587 to you in a single sum payment \u2022 Determine your required minimum distribution from your inherited \u2587\u2587\u2587 each year based on your life expectancy, calculated using the single life table in Regulations section 1.401(a)(9)-9, and pay those distributions to you until you direct otherwise We will not be liable for any penalties or taxes related to your failure to take a required minimum distribution. After your death your successor beneficiaries, if any, must continue with payments in accordance with the distribution method you had chosen, or must accelerate the payments.", "size": 13, "samples": [{"hash": "eROmfDylDvK", "uri": "/contracts/eROmfDylDvK#required-minimum-distributions", "label": "Inherited Ira Adoption Agreement", "score": 26.4776268005, "published": true}, {"hash": "f1mo609aktS", "uri": "/contracts/f1mo609aktS#required-minimum-distributions", "label": "Inherited Ira Adoption Agreement", "score": 22.2395610809, "published": true}, {"hash": "emhEiKEaNEY", "uri": "/contracts/emhEiKEaNEY#required-minimum-distributions", "label": "Inherited Ira Adoption Agreement", "score": 21.2484607697, "published": true}], "snippet_links": [{"key": "you-are-required-to", "type": "clause", "offset": [0, 19]}, {"key": "minimum-distributions", "type": "definition", "offset": [25, 46]}, {"key": "available-to", "type": "definition", "offset": [84, 96]}, {"key": "plan-participant", "type": "definition", "offset": [132, 148]}, {"key": "article-iv", "type": "definition", "offset": [188, 198]}, {"key": "section-3", "type": "definition", "offset": [200, 209]}, {"key": "spouse-beneficiary", "type": "clause", "offset": [213, 231]}, {"key": "all-rights", "type": "clause", "offset": [242, 252]}, {"key": "the-code", "type": "clause", "offset": [270, 278]}, {"key": "applicable-regulations", "type": "clause", "offset": [282, 304]}, {"key": "life-expectancy-payments", "type": "clause", "offset": [376, 400]}, {"key": "the-payment", "type": "clause", "offset": [402, 413]}, {"key": "each-year", "type": "definition", "offset": [430, 439]}, {"key": "by-december", "type": "clause", "offset": [440, 451]}, {"key": "distribution-election", "type": "definition", "offset": [486, 507]}, {"key": "prior-plan", "type": "clause", "offset": [517, 527]}, {"key": "distribution-period", "type": "definition", "offset": [559, 578]}, {"key": "an-exception", "type": "clause", "offset": [631, 643]}, {"key": "qualified-retirement-plan", "type": "definition", "offset": [676, 701]}, {"key": "deferred-compensation-plan", "type": "clause", "offset": [772, 798]}, {"key": "year-rule", "type": "clause", "offset": [848, 857]}, {"key": "payment-election", "type": "definition", "offset": [923, 939]}, {"key": "the-year", "type": "definition", "offset": [962, 970]}, {"key": "following-the", "type": "definition", "offset": [971, 984]}, {"key": "the-plan", "type": "clause", "offset": [993, 1001]}, {"key": "remaining-assets", "type": "clause", "offset": [1085, 1101]}, {"key": "to-request", "type": "clause", "offset": [1187, 1197]}, {"key": "required-minimum-distribution", "type": "clause", "offset": [1203, 1232]}, {"key": "sole-discretion", "type": "definition", "offset": [1277, 1292]}, {"key": "no-distribution", "type": "clause", "offset": [1330, 1345]}, {"key": "withdrawal-request", "type": "definition", "offset": [1373, 1391]}, {"key": "single-sum-payment", "type": "definition", "offset": [1443, 1461]}, {"key": "based-on", "type": "clause", "offset": [1543, 1551]}, {"key": "single-life", "type": "clause", "offset": [1595, 1606]}, {"key": "distributions-to", "type": "clause", "offset": [1665, 1681]}, {"key": "related-to", "type": "definition", "offset": [1762, 1772]}, {"key": "failure-to-take", "type": "definition", "offset": [1778, 1793]}, {"key": "your-death", "type": "clause", "offset": [1833, 1843]}, {"key": "successor-beneficiaries", "type": "clause", "offset": [1849, 1872]}, {"key": "in-accordance-with", "type": "clause", "offset": [1910, 1928]}, {"key": "distribution-method", "type": "definition", "offset": [1933, 1952]}], "hash": "d1b4eeb92bbd945546bb1867b9e03eb3", "id": 5}, {"snippet": "You are not required to take distributions from your \u2587\u2587\u2587\u2587 \u2587\u2587\u2587 at age 70\u00bd (as required for Traditional and SIMPLE IRAs). However, your beneficiary(ies) is generally required to take distributions from your \u2587\u2587\u2587\u2587 \u2587\u2587\u2587 after your death. See the section titled Beneficiary Payouts in this Disclosure Statement regarding beneficiary\u2019s(ies\u2019) required minimum distributions.", "size": 12, "samples": [{"hash": "5PoRWUkBb9b", "uri": "/contracts/5PoRWUkBb9b#required-minimum-distributions", "label": "Roth Ira Account Agreement", "score": 25.5450458527, "published": true}, {"hash": "k1KvDfs4bjk", "uri": "/contracts/k1KvDfs4bjk#required-minimum-distributions", "label": "Roth Ira Plan Agreement", "score": 23.0410671234, "published": true}, {"hash": "21XoemZTgeB", "uri": "/contracts/21XoemZTgeB#required-minimum-distributions", "label": "Roth Ira Plan Agreement", "score": 21.2888431549, "published": true}], "snippet_links": [{"key": "not-required", "type": "definition", "offset": [8, 20]}, {"key": "as-required", "type": "clause", "offset": [74, 85]}, {"key": "simple-iras", "type": "clause", "offset": [106, 117]}, {"key": "your-death", "type": "clause", "offset": [220, 230]}, {"key": "beneficiary-payouts", "type": "clause", "offset": [255, 274]}, {"key": "disclosure-statement", "type": "definition", "offset": [283, 303]}], "hash": "f8ce4413be6ee7c5a6206fbddb203448", "id": 6}, {"snippet": "If a Participant\u2019s or former Participant\u2019s Required Beginning Date is before the date on which he incurs a Separation From Service, the Participant or former Participant (if he is then alive) must be paid either the entire amount credited to his Account or annual distributions from the Plan in the amounts required under section 401(a)(9) of the Code and Regulations thereunder commencing no later than his Required Beginning Date until his entire interest under the Plan has been distributed under this Article V. The distribution required to be made on or before the Participant\u2019s or former Participant\u2019s Required Beginning Date shall be the distribution required for his first Distribution Calendar Year. The minimum required distribution for other Distribution Calendar Years, including the required minimum distribution for the Distribution Calendar Year in which the Participant\u2019s or former Participant\u2019s Required Beginning Date occurs must be made on or before December 31 of that Distribution Calendar Year. The amount that must be distributed for a Distribution Calendar Year is an amount equal to (1) the Participant\u2019s or former Participant\u2019s Account balance as of the last Valuation Date in the calendar year immediately preceding the Distribution Calendar Year, increased by any contributions or forfeitures allocated and made to the Account during such immediately preceding calendar year after the Valuation Date, and decreased by distributions made during such immediately preceding calendar year after the Valuation Date, divided by (2) the Participant\u2019s or former Participant\u2019s Applicable Distribution Period.", "size": 11, "samples": [{"hash": "j5prxkC00yN", "uri": "/contracts/j5prxkC00yN#required-minimum-distributions", "label": "401(k) Savings Plan Amendment (Quanex Corp)", "score": 21.0, "published": true}, {"hash": "fi2APTjv5t", "uri": "/contracts/fi2APTjv5t#required-minimum-distributions", "label": "401(k) Savings Plan Amendment (Quanex Corp)", "score": 21.0, "published": true}, {"hash": "bk02bsoNmbb", "uri": "/contracts/bk02bsoNmbb#required-minimum-distributions", "label": "Second Amendment to the Quanex Corporation Hourly Bargaining Unit Savings Plan (Quanex Corp)", "score": 21.0, "published": true}], "snippet_links": [{"key": "a-participant", "type": "clause", "offset": [3, 16]}, {"key": "former-participant", "type": "definition", "offset": [22, 40]}, {"key": "required-beginning-date", "type": "clause", "offset": [43, 66]}, {"key": "separation-from-service", "type": "definition", "offset": [107, 130]}, {"key": "the-participant", "type": "clause", "offset": [132, 147]}, {"key": "annual-distributions", "type": "clause", "offset": [257, 277]}, {"key": "the-plan", "type": "clause", "offset": [283, 291]}, {"key": "code-and-regulations", "type": "definition", "offset": [347, 367]}, {"key": "entire-interest", "type": "clause", "offset": [442, 457]}, {"key": "this-article", "type": "definition", "offset": [500, 512]}, {"key": "the-distribution", "type": "clause", "offset": [516, 532]}, {"key": "first-distribution-calendar-year", "type": "clause", "offset": [675, 707]}, {"key": "minimum-required-distribution", "type": "clause", "offset": [713, 742]}, {"key": "other-distribution", "type": "definition", "offset": [747, 765]}, {"key": "calendar-years", "type": "clause", "offset": [766, 780]}, {"key": "required-minimum-distribution", "type": "clause", "offset": [796, 825]}, {"key": "before-december", "type": "clause", "offset": [962, 977]}, {"key": "a-distribution", "type": "clause", "offset": [1057, 1071]}, {"key": "equal-to", "type": "definition", "offset": [1099, 1107]}, {"key": "account-balance", "type": "definition", "offset": [1154, 1169]}, {"key": "last-valuation-date", "type": "definition", "offset": [1180, 1199]}, {"key": "increased-by", "type": "clause", "offset": [1275, 1287]}, {"key": "the-account", "type": "clause", "offset": [1343, 1354]}, {"key": "the-valuation", "type": "clause", "offset": [1409, 1422]}, {"key": "decreased-by", "type": "clause", "offset": [1433, 1445]}, {"key": "divided-by", "type": "clause", "offset": [1539, 1549]}, {"key": "applicable-distribution-period", "type": "definition", "offset": [1596, 1626]}], "hash": "e8fb09565a58ff008420a86e53fb3681", "id": 7}, {"snippet": "The Custodian will send the Depositor a notice each year the Depositor is subject to the requirements of Article IV. Such notice will include the distribution deadline and will inform the Depositor of the required minimum distribution (RMD) amount or provide guidance to the Depositor on how to contact the Custodian for assistance in determining the RMD amount. The Custodian reserves the right to determine each year the method of providing the RMD notice. The RMD amount, if provided, may be calculated using the uniform lifetime table in Regulations section 1.401(a)(9)-9. However, if the Depositor\u2019s spouse is the sole designated beneficiary for the entire distribution year and is more than 10 years younger than the Depositor, the Depositor\u2019s minimum amount required to be distributed by the Depositor is an amount calculated using the joint and last survivor table in Regulations section 1.401(a)(9)-9. The Custodian will not be liable for and the Depositor will indemnify and hold the Custodian harmless for any adverse consequences and/or penalties resulting from the Depositor's actions or inactions (including errors in calculations resulting from reliance on information provided by the Depositor) with respect to determining such RMDs.", "size": 10, "samples": [{"hash": "d7SglnQIvp6", "uri": "/contracts/d7SglnQIvp6#required-minimum-distributions", "label": "Custodial Agreement", "score": 35.2347221375, "published": true}, {"hash": "8l9zZFlp7JN", "uri": "/contracts/8l9zZFlp7JN#required-minimum-distributions", "label": "Custodial Agreement", "score": 35.1939239502, "published": true}, {"hash": "1CHNPygfhop", "uri": "/contracts/1CHNPygfhop#required-minimum-distributions", "label": "Traditional Individual Retirement Account Custodial Agreement", "score": 34.8091773987, "published": true}], "snippet_links": [{"key": "the-custodian", "type": "definition", "offset": [0, 13]}, {"key": "the-depositor", "type": "clause", "offset": [24, 37]}, {"key": "a-notice", "type": "definition", "offset": [38, 46]}, {"key": "each-year", "type": "definition", "offset": [47, 56]}, {"key": "the-requirements", "type": "clause", "offset": [85, 101]}, {"key": "article-iv", "type": "definition", "offset": [105, 115]}, {"key": "distribution-deadline", "type": "definition", "offset": [146, 167]}, {"key": "required-minimum-distribution", "type": "clause", "offset": [205, 234]}, {"key": "how-to-contact", "type": "clause", "offset": [288, 302]}, {"key": "assistance-in", "type": "clause", "offset": [321, 334]}, {"key": "to-determine", "type": "clause", "offset": [396, 408]}, {"key": "providing-the", "type": "clause", "offset": [433, 446]}, {"key": "designated-beneficiary", "type": "definition", "offset": [624, 646]}, {"key": "distribution-year", "type": "definition", "offset": [662, 679]}, {"key": "amount-required", "type": "clause", "offset": [758, 773]}, {"key": "joint-and-last-survivor", "type": "clause", "offset": [843, 866]}, {"key": "indemnify-and-hold", "type": "clause", "offset": [971, 989]}, {"key": "adverse-consequences", "type": "definition", "offset": [1021, 1041]}, {"key": "resulting-from-the", "type": "clause", "offset": [1059, 1077]}, {"key": "actions-or-inactions", "type": "clause", "offset": [1090, 1110]}, {"key": "errors-in-calculations", "type": "clause", "offset": [1122, 1144]}, {"key": "information-provided-by", "type": "clause", "offset": [1172, 1195]}, {"key": "with-respect-to", "type": "clause", "offset": [1211, 1226]}], "hash": "e3c16a2e9b0177fc761d08b93abda458", "id": 8}, {"snippet": "(RMDs) - The Contract and all benefits, distributions and payments made under it shall comply with and conform to the RMD and incidental death benefit rules in Code Sections 401(a)(9), 408(a)(6) and 408(b)(3) and the Regulations relating thereto, and shall be administered or adjusted accordingly, e.g., pursuant to the Tax Qualification Provisions below. Such rules shall override any benefit, distribution or payment provisions in the Contract that are inconsistent with such rules, and the selection of any annuity or other distribution option described in the Contract (or offered by the Company) that does not satisfy the requirements of this Section B.8 or Code Section 401(a)(9) shall not be permitted. Accordingly, except to the extent that RMDs are waived in accordance with Code Section 401(a)(9) (e.g., for 2009):\n(a) The entire interest under the Contract shall be distributed:\n(i) No later than the Required Beginning Date, or\n(ii) By periodic distributions, starting no later than the Required Beginning Date, over the Owner\u2019s life or the lives of the Owner and a Designated Beneficiary (or over a period not extending beyond the Owner\u2019s Life Expectancy or the joint and last survivor Life Expectancy of the Owner and a Designated Beneficiary).\n(b) RMDs shall be made in accordance with the Regulations under Code Sections 401(a)(9) and 408(b)(3) and related Code provisions. Accordingly:\n(i) If the Owner has not elected otherwise in writing to the Company by the Owner\u2019s Election Date to have the Owner\u2019s entire interest distributed under another method available under the Contract (or offered by the Company) that qualifies under Code Section 401(a)(9) (e.g., under Reg. \u00a7 1.401(a)(9)-6, Q&A-1(a), or \u00a7 1.401(a)(9)-8, Q&A-2), the RMD amount that must be distributed each Distribution Year with respect to the Contract shall be equal to the quotient obtained by dividing the account balance for the Contract (as determined under Reg. \u00a7 1.401(a)(9)-6, Q&A-12, and \u00a7 1.408-8, Q&A-6, including any adjustment for any rollover, transfer or recharacterization under Reg. \u00a7 1.408-8, Q&A-7 or Q&A-8) by the Applicable Distribution Period. For these purposes -\n(1) The Applicable Distribution Period is determined by using the Uniform Lifetime Table in Reg. \u00a7 1.401(a)(9)-9, Q&A-2, in accordance with Reg. \u00a7 1.401(a)(9)-5, Q&A-4(a), or\n(2) If the Owner\u2019s spouse is treated as the sole Designated Beneficiary for the Contract (taking any Separate Shares into account) for the Distribution Year under Reg. \u00a7 1.401(a)(9)-5, Q&A-4(b), the Applicable Distribution Period is the longer of the distribution period under subparagraph (1) immediately above or the joint Life Expectancy of the Owner and such spouse, recalculated annually and based on their attained ages as of their birthdays in such Distribution Year, as reflected in the Joint and Last Survivor Table in Reg. \u00a7 1.401(a)(9)-9, Q&A-3. Such RMD must be distributed no later than the Required Beginning Date for the first Distribution Year, and for each subsequent Distribution Year by December 31 thereof. However, the Owner may arrange to have any portion (or all) of such RMD distributed from another Non-Roth \u2587\u2587\u2587 \u2587\u2587\u2587\u2587d by such Owner (rather than from the Contract), in accordance with Reg. \u00a7 1.408-8, Q&A-9. If the Owner dies on or after the Required Beginning Date, an RMD is required for the Owner\u2019s Year of Death, determined as if the Owner had lived throughout that year.\n(ii) As of the Owner\u2019s Election Date or at any time thereafter (on 30 days notice to the Company), the Owner may elect in writing to have any portion or all of the undistributed interest under the Contract applied to an annuity option available under the Contract (or offered by the Company) that qualifies under Code Section 401(a)(9) or Reg. \u00a7 1.401(a)(9)-6, Q&A-1(a), in accordance with Reg. \u00a7 1.401(a)(9)-8, Q&A-2(a)(3). Such an annuity option must make annuity or other periodic payments at intervals no longer than one year, and must satisfy the other requirements of Reg. \u00a7 1.401(a)(9)-6, including:\n(1) Life annuity or a joint and survivor annuity. The Owner must be a measuring life under any life annuity elected during the Owner\u2019s lifetime. Any periodic annuity payment to any survivor under a joint and survivor annuity may not exceed the applicable percentage of the annuity payment to the Owner and other limits, as provided in Reg. \u00a7 1.401(a)(9)-6, Q&A-2.\n(2) Life (or joint and survivor) annuity with period certain. The amounts and duration of the annuity payments must satisfy the requirements in Reg. \u00a7 1.401(a)(9)-6, Q&A-1(b) and Q&A-2(d).\n(3) Period certain annuity without a life contingency. The period certain may not exceed the maximum period specified in Reg. \u00a7 1.401(a)(9)-6, Q&A-3 and Q&A-10(b).\n(4) Annuity payments may not be in increasing amounts, except as allowed by Reg. \u00a7 1.401(a)(9)-6, Q&A-1(a) or Q&A-14.\n(c) The Owner or the Owner\u2019s beneficiary, as applicable, shall have the sole responsibility for requesting or arranging for distributions that comply with this Rider and applicable income tax requirements.", "size": 9, "samples": [{"hash": "lrxJjxHVRj", "uri": "/contracts/lrxJjxHVRj#required-minimum-distributions", "label": "Simple Ira Rider (Separate Account a of Pacific Life & Annuity Co)", "score": 22.101984024, "published": true}, {"hash": "lroNSqteZcM", "uri": "/contracts/lroNSqteZcM#required-minimum-distributions", "label": "Simple Ira Rider (Separate Account a of Pacific Life & Annuity Co)", "score": 22.101984024, "published": true}, {"hash": "l8Wd0KIt5jk", "uri": "/contracts/l8Wd0KIt5jk#required-minimum-distributions", "label": "Simple Ira Rider (Separate Account a of Pacific Life & Annuity Co)", "score": 22.0965099335, "published": true}], "snippet_links": [{"key": "payments-made", "type": "clause", "offset": [58, 71]}, {"key": "comply-with", "type": "definition", "offset": [87, 98]}, {"key": "incidental-death-benefit", "type": "clause", "offset": [126, 150]}, {"key": "the-regulations", "type": "clause", "offset": [213, 228]}, {"key": "pursuant-to-the", "type": "definition", "offset": [304, 319]}, {"key": "tax-qualification-provisions", "type": "clause", "offset": [320, 348]}, {"key": "payment-provisions", "type": "definition", "offset": [411, 429]}, {"key": "in-the-contract", "type": "clause", "offset": [430, 445]}, {"key": "selection-of", "type": "definition", "offset": [493, 505]}, {"key": "distribution-option", "type": "clause", "offset": [527, 546]}, {"key": "by-the-company", "type": "clause", "offset": [585, 599]}, {"key": "the-requirements", "type": "clause", "offset": [623, 639]}, {"key": "code-section", "type": "definition", "offset": [663, 675]}, {"key": "except-to-the-extent", "type": "clause", "offset": [723, 743]}, {"key": "in-accordance-with", "type": "clause", "offset": [765, 783]}, {"key": "entire-interest", "type": "clause", "offset": [833, 848]}, {"key": "required-beginning-date", "type": "clause", "offset": [912, 935]}, {"key": "periodic-distributions", "type": "definition", "offset": [948, 970]}, {"key": "of-the-owner", "type": "clause", "offset": [1059, 1071]}, {"key": "designated-beneficiary", "type": "definition", "offset": [1078, 1100]}, {"key": "life-expectancy", "type": "definition", "offset": [1152, 1167]}, {"key": "joint-and-last-survivor", "type": "clause", "offset": [1175, 1198]}, {"key": "code-provisions", "type": "definition", "offset": [1373, 1388]}, {"key": "in-writing", "type": "definition", "offset": [1446, 1456]}, {"key": "by-the-owner", "type": "clause", "offset": [1472, 1484]}, {"key": "election-date", "type": "definition", "offset": [1487, 1500]}, {"key": "available-under", "type": "clause", "offset": [1570, 1585]}, {"key": "distribution-year", "type": "definition", "offset": [1789, 1806]}, {"key": "with-respect-to", "type": "clause", "offset": [1807, 1822]}, {"key": "equal-to", "type": "definition", "offset": [1845, 1853]}, {"key": "account-balance", "type": "definition", "offset": [1892, 1907]}, {"key": "adjustment-for", "type": "clause", "offset": [2012, 2026]}, {"key": "applicable-distribution-period", "type": "definition", "offset": [2117, 2147]}, {"key": "the-distribution", "type": "clause", "offset": [2480, 2496]}, {"key": "joint-life", "type": "clause", "offset": [2664, 2674]}, {"key": "based-on", "type": "clause", "offset": [2742, 2750]}, {"key": "the-first-distribution", "type": "clause", "offset": [2977, 2999]}, {"key": "subsequent-distribution", "type": "definition", "offset": [3019, 3042]}, {"key": "by-december", "type": "clause", "offset": [3048, 3059]}, {"key": "at-any-time", "type": "clause", "offset": [3485, 3496]}, {"key": "notice-to-the-company", "type": "definition", "offset": [3520, 3541]}, {"key": "annuity-option", "type": "definition", "offset": [3665, 3679]}, {"key": "other-periodic-payments", "type": "clause", "offset": [3914, 3937]}, {"key": "one-year", "type": "definition", "offset": [3966, 3974]}, {"key": "other-requirements", "type": "definition", "offset": [3997, 4015]}, {"key": "life-annuity", "type": "clause", "offset": [4056, 4068]}, {"key": "joint-and-survivor-annuity", "type": "definition", "offset": [4074, 4100]}, {"key": "the-owner-must", "type": "clause", "offset": [4102, 4116]}, {"key": "measuring-life", "type": "clause", "offset": [4122, 4136]}, {"key": "applicable-percentage", "type": "clause", "offset": [4296, 4317]}, {"key": "payment-to-the", "type": "clause", "offset": [4333, 4347]}, {"key": "other-limits", "type": "clause", "offset": [4358, 4370]}, {"key": "duration-of-the", "type": "clause", "offset": [4494, 4509]}, {"key": "annuity-payments", "type": "clause", "offset": [4510, 4526]}, {"key": "period-certain-annuity", "type": "clause", "offset": [4609, 4631]}, {"key": "the-period", "type": "clause", "offset": [4660, 4670]}, {"key": "maximum-period", "type": "clause", "offset": [4698, 4712]}, {"key": "responsibility-for", "type": "clause", "offset": [4964, 4982]}, {"key": "tax-requirements", "type": "clause", "offset": [5075, 5091]}], "hash": "95e2ee03fa16a388e68620ce42d03f27", "id": 9}, {"snippet": "You are required to take minimum distributions from your IRA at certain times in accordance with Treasury Regulation 1.408-8. Below is a summary of the IRA distribution rules.\n1. RMD\u2019s for 2023 and beyond \u2013 Beginning in 2023, if you were born in 1951 or later, you are required to take a minimum distribution from your IRA for the year in which you reach age 73 and for each year thereafter. You must take your first distribution by your required beginning date, which is April 1 of the year following the year you attain age 73. The minimum distribution for any taxable year is equal to the amount obtained by dividing the account balance at the end of the prior year by the applicable divisor.", "size": 9, "samples": [{"hash": "kRBLAinkdlY", "uri": "/contracts/kRBLAinkdlY#required-minimum-distributions", "label": "Individual Retirement Custodial Account Agreement", "score": 34.4243736267, "published": true}, {"hash": "cKHah5fhaUT", "uri": "/contracts/cKHah5fhaUT#required-minimum-distributions", "label": "Individual Retirement Custodial Account Agreement", "score": 27.9418201447, "published": true}, {"hash": "gRzC3slHSxh", "uri": "/contracts/gRzC3slHSxh#required-minimum-distributions", "label": "Individual Retirement Custodial Account Agreement", "score": 27.867898941, "published": true}], "snippet_links": [{"key": "you-are-required-to", "type": "clause", "offset": [0, 19]}, {"key": "minimum-distributions", "type": "definition", "offset": [25, 46]}, {"key": "in-accordance-with", "type": "clause", "offset": [78, 96]}, {"key": "treasury-regulation", "type": "clause", "offset": [97, 116]}, {"key": "summary-of-the", "type": "clause", "offset": [137, 151]}, {"key": "distribution-rules", "type": "clause", "offset": [156, 174]}, {"key": "the-year", "type": "definition", "offset": [327, 335]}, {"key": "each-year", "type": "definition", "offset": [370, 379]}, {"key": "first-distribution", "type": "definition", "offset": [411, 429]}, {"key": "required-beginning-date", "type": "clause", "offset": [438, 461]}, {"key": "april-1", "type": "definition", "offset": [472, 479]}, {"key": "following-the", "type": "definition", "offset": [492, 505]}, {"key": "taxable-year", "type": "definition", "offset": [563, 575]}, {"key": "equal-to", "type": "definition", "offset": [579, 587]}, {"key": "account-balance", "type": "definition", "offset": [624, 639]}, {"key": "at-the-end-of-the", "type": "clause", "offset": [640, 657]}, {"key": "prior-year", "type": "clause", "offset": [658, 668]}, {"key": "the-applicable", "type": "clause", "offset": [672, 686]}], "hash": "e864e88d238f5b0108035860a1434cd7", "id": 10}], "next_curs": "CmcSYWoVc35sYXdpbnNpZGVyY29udHJhY3RzckMLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IidyZXF1aXJlZC1taW5pbXVtLWRpc3RyaWJ1dGlvbnMjMDAwMDAwMGEMogECZW4YACAA", "clause": {"title": "Required Minimum Distributions", "parents": [["what-law", "What Law"], ["life-insurance", "Life Insurance"], ["limitation-of-liability", "Limitation of Liability"], ["waiver-of-2020-rmd", "Waiver of 2020 RMD"], ["summary-description-requirements", "Summary Description Requirements"]], "children": [["", ""], ["required-beginning-date", "Required Beginning Date"], ["written-election", "Written Election"], ["prohibited-transactions", "Prohibited Transactions"], ["important-information-about-procedures-for-opening-a-new-account", "Important Information About Procedures for Opening a New Account"]], "size": 414, "id": "required-minimum-distributions", "related": [["how-are-required-minimum-distributions-computed", "How are Required Minimum Distributions Computed", "How are <strong>Required Minimum Distributions</strong> Computed"], ["adjustment-of-minimum-quarterly-distribution-and-target-distribution-levels", "Adjustment of Minimum Quarterly Distribution and Target Distribution Levels", "Adjustment of Minimum Quarterly Distribution and Target Distribution Levels"], ["interim-distributions", "Interim Distributions", "Interim Distributions"], ["distributions-of-available-cash-from-operating-surplus", "Distributions of Available Cash From Operating Surplus", "Distributions of Available Cash From Operating Surplus"], ["distributions-of-available-cash-from-capital-surplus", "Distributions of Available Cash from Capital Surplus", "Distributions of Available Cash from Capital Surplus"]], "related_snippets": [], "updated": "2025-11-18T05:27:50+00:00"}, "json": true, "cursor": ""}}