Required Start of Withdrawals Sample Clauses

Required Start of Withdrawals. An Employee must begin taking minimum withdrawals from the Account. as described in Section 5.3(b), no later than the April 1 of the year following the year in which the Employee reaches age 70½, or the April 1 following the Employee's retirement or termination of employment from the Employer, if later (the “required beginning date”).

Required Start of Withdrawals. An Employee must begin taking minimum withdrawals from the Account as described in Section 5.3(b), no later than the April 1 of the year following the year in which the Employee reaches age 72 (or age 70½ for Employees who reach age 70½ on or before December 31, 2019), or the April 1 following the Employee’s retirement or termination of employment from the Employer, if later (the “required beginning date”). Note: Under the Coronavirus Aid, Relief and Economic Security Act, the requirement to take required minimum distributions is waived for 2020. Therefore, any minimum distributions required to be taken for 2019 that must be taken before April 1, 2020 and any minimum distributions required to be taken for 2020 need not be taken.