Spouse Beneficiaries Sample Clauses

Spouse Beneficiaries. If you are the only beneficiary of the IRA, or if there are multiple beneficiaries and separate accounting applies, and you are the IRA owner’s surviving spouse, you may use your age each year to determine the life expectancy divisor for calculating that year’s RMD. Also, you may calculate your RMD by using the longer of your single life expectancy, determined each year after the year of death using your attained age, or by using the IRA owner’s remaining single life expectancy determined in his/her year of death and reduced by one for each subsequent year. You can treat your share of the IRA as your own IRA any time after the IRA owner’s death. In this case, different RMD rules will apply. However, the option to treat the Beneficiary IRA as your own is not available if a qualified trust is named as beneficiary of the IRA, even if you are the sole beneficiary of the trust. You may always roll over a death distribution less any RMD for that year.
Sample 1Sample 2
AutoNDA by SimpleDocs
Spouse Beneficiaries. If you are the only beneficiary of the IRA, or if there are multiple beneficiaries and separate accounting applies, and you are the IRA owner’s surviving spouse, you may use your age each year to determine the life expectancy divisor for calculating that year’s RMD. If you are the only beneficiary, or if there are multiple beneficiaries and separate accounting applies, you, as surviving spouse, can postpone commencement of RMDs until the end of the year in which the IRA owner would have attained age 70½. If you are the only beneficiary of the IRA, or if there are multiple beneficiaries and separate accounting applies, you can treat your share of the IRA as your own IRA any time after the IRA owner’s death. After treating the IRA as your own, the RMD rules for an IRA owner will apply. However, the option to treat the Beneficiary IRA as your own is not available if a qualified trust is named as beneficiary of the IRA, even if you are the sole beneficiary of the trust. As a spouse beneficiary, you may take a distribution any time, and rollover amounts in excess of the current year’s RMD amount.
Sample 1Sample 2
Spouse Beneficiaries. If you are the only beneficiary of the Xxxx XXX, or if there are multiple beneficiaries and separate accounting applies, and you are the Xxxx XXX owner’s surviving spouse, you may use your age each year to determine the life expectancy divisor for calculating that year’s RMD. If you are the only beneficiary, or if there are multiple beneficiaries and separate accounting applies, you, as surviving spouse, can postpone commencement of RMDs until the end of the year in which the Xxxx XXX owner would have attained age 70½. If you are the only beneficiary of the IRA, or if there are multiple beneficiaries and separate accounting applies, you can treat your share of the Xxxx XXX as your own Xxxx XXX any time after the Xxxx XXX owner’s death. After treating the Xxxx XXX as your own, the RMD rules do not apply to you. However, the option to treat the Xxxx Beneficiary IRA as your own is not available if a qualified trust is named as beneficiary of the IRA, even if you are the sole beneficiary of the trust. As a spouse beneficiary, you may take a distribution any time, and rollover amounts in excess of your current year’s beneficiary RMD amount.
Sample 1Sample 2

Related to Spouse Beneficiaries

  • Intended Beneficiaries Nothing in this Agreement shall be construed to give any person or entity other than the parties hereto any legal or equitable claim, right or remedy. Rather, this Agreement is intended to be for the sole and exclusive benefit of the parties hereto.

  • Beneficiaries The Executive may designate one or more persons or entities as the primary and/or contingent beneficiaries of any amounts to be received under this Agreement. Such designation must be in the form of a signed writing acceptable to the Board or the Board's designee. The Executive may make or change such designation at any time.

  • How do the RMD Rules Impact my Designated Beneficiary or Beneficiaries The RMD rules provide for the determination of your designated beneficiary or beneficiaries as of September 30 of the year following your death. Consequently, any beneficiary may be eliminated for purposes of calculating the RMD by the distribution of that beneficiary’s benefit, through a valid disclaimer between your death and the end of September following the year of your death, or by dividing your IRA account into separate accounts for each of several designated beneficiaries you may have designated.

  • Spouse The spouse of an eligible employee (if legally married under Minnesota law). For the purposes of health insurance coverage, if that spouse works full-time for an organization employing more than one hundred (100) people and elects to receive either credits or cash (1) in place of health insurance or health coverage or (2) in addition to a health plan with a seven hundred and fifty dollar ($750) or greater deductible through his/her employing organization, he/she is not eligible to be a covered dependent for the purposes of this Article. If both spouses work for the State or another organization participating in the State's Group Insurance Program, neither spouse may be covered as a dependent by the other, unless one spouse is not eligible for a full Employer Contribution as defined in Section 3A. Effective January 1, 2015 if both spouses work for the State or another organization participating in the State’s Group Insurance Program, a spouse may be covered as a dependent by the other.

  • Alternate Payee A. Pursuant to the provisions of the Assumption of Liability Endorsement, the Reinsurer has agreed that, in lieu of payment to the Company or its receiver, rehabilitator, liquidator, conservator, or other statutory successor, it shall pay valid claims under the Policy directly to the Insured, at the Insured's request, if a Cut Through Triggering Event (as that term is defined in the Assumption of Liability Endorsement) occurs.

  • Designated Beneficiary The individual who is designated as the Beneficiary under the Plan and is the designated beneficiary under Section 401(a)(9) of the Internal Revenue Code and Section 1.401(a)(9)-1, Q&A-4, of the Treasury regulations.

  • Survivor’s Benefits Benefits for the surviving family members of individuals who have died from COVID–19, including cash assistance to widows, widowers, or dependents of individuals who died of COVID–19.

  • Beneficiary The Participant may file with the Committee a written designation of a beneficiary on such form as may be prescribed by the Committee and may, from time to time, amend or revoke such designation.

  • Survivor Benefits 1. A surviving dependent of a retiree who was eligible to receive a Retiree Medical Grant, as stated above in A through C, and who qualifies for a monthly allowance shall be eligible for fifty (50) percent of the Grant authorized for the retiree.

  • Survivor Benefit Upon the death of a regular employee who leaves a spouse and/or dependants enrolled in the Medical Services Plan, Dental Plan and Extended Health Benefit Plan, such enrolment may continue for twelve (12) months following the employee’s death, provided the enrolled family members pay the employee’s share of the cost of the premium for the plans. The Employer shall advise the survivor of this benefit.

Time is Money Join Law Insider Premium to draft better contracts faster.