Age 70 1/2 definition

Age 70 1/2 means that date six months following the date on which falls the seventieth (70th) anniversary of the Participant’s birth, whether or not the Participant dies prior to such date.
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Examples of Age 70 1/2 in a sentence

  • Age 70 1/2 Required Minimum Distributions - You are required to begin receiving minimum distributions from your SIMPLE IRA by your required beginning date (the April 1 of the year following the year you attain age 70 1/2).

  • Part B - One-Time Age 70 1/2 Distribution - Required Beginning Date (RBD)RBD - Applies to the year the participant attains age 70 1/2 and only to non-inherited contracts.

  • Mandatory Distributions upon Attaining Age 70 1/2 Federal law requires you to begin receiving your benefits by April 1 of the calendar year following the calendar year in which you reach the age of 70 1/2, or if later, the year in which you retire (i.e., no longer are working in the trade).

  • For any Participant who attains Age 701/2 and is not a 5-percent owner (within the meaning of section 416 of the Code) of a Participating Company, April 1 of the calendar year following the later of the calendar year in which he has a Severance from Service Date or the calendar year in which he attained Age 70 1/2.

  • If you choose this option you must include a URS Savings Plans Direct Deposit for One-Time Payments (DCEFT-1) form.SECTION B - ELIGIBILITY FOR WITHDRAWAL (mark one only) Last Day of Employment: Over Age 70 1/2 (4 elections per year while employed) (mm/dd/yyyy)SECTION C - PAYOUT DATEAs soon as possible or Payment issued on (date) (mm/dd/yyyy)NOTE: Periodic payments will be issued the last working date of the month.

  • Rollovers and Direct Rollovers of Required Minimum Distributions are Occurring during Years Employee Retires or becomes Age 70 1/2 41H.

  • Age 70 1/2 Required Minimum Distributions—You are required to begin receiving minimum distributions from your SIMPLE IRA by your required beginning date (the April 1 of the year following the year you attain age 70 1/2).

  • Pre-retirement Age 70 1/2 Distributions: The pre-retirement Age 70 1/2 distribution option is only eliminated with respect to Employees who reach Age 70 1/2 in or after a calendar year that begins after the later of December 31, 1998, or the adoption date of this amended Plan.

  • However, if distribution to the surviving spouse commences in the form of an irrevocable annuity over a period permitted under paragraph (b) before the deceased Participant would have reached Age 70 1/2, distribution will be considered as having begun on the actual annuity commencement date.

  • The pre-retirement Age 70 1/2 distribution option is an optional form of benefit under which benefits payable in a particular distribution form (including any modifications that may be elected after benefit commencement) commence at a time during the period that begins on or after January 1st of the calendar year in which an Employee attains age 70 1/2 and ends April 1st of the immediately following calendar year.

Related to Age 70 1/2

  • Required Beginning Date means April 1 of the calendar year following the later of:

  • Starting Date means the date referred to in Clause 3.3 hereof;

  • Annuity Commencement Date is the first day of the month an annuity begins under this contract. This date may not be later than the date a Participant's periodic benefits are required to commence under the Code.

  • Earliest Retirement Age means the earliest date on which, under the Plan, the Participant could elect to receive retirement benefits.

  • 2001 CSO Mortality Table means that mortality table, consisting of separate rates of mortality for male and female lives, developed by the American Academy of Actuaries CSO Task Force from the valuation basic mortality table developed by the Society of Actuaries Individual Life Insurance Valuation Mortal- ity Task Force, and adopted by the NAIC in December 2002. The 2001 CSO mortality table is included in the Proceedings of the NAIC (2nd Quarter 2002) and is supplemented by the 2001 CSO preferred class structure mortality table and may be obtained from the office. Unless the context indicates otherwise, the “2001 CSO mortality table” includes both the ultimate form of that table and the select and ultimate form of that table and includes both the smoker and nonsmoker mortality tables and the composite mor- tality tables. It also includes both the age−nearest−birthday and age−last−birthday bases of the mortality tables.

  • Distribution Commencement Date means the Issue Date or such other date as may be specified as the Distribution Commencement Date on the face of such Perpetual Security;

  • Annuity Starting Date means, with respect to any Participant, the first day of the first period for which an amount is paid as an annuity, or, in the case of a benefit not payable in the form of an annuity, the first day on which all events have occurred which entitles the Participant to such benefit.

  • life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;

  • Normal Retirement Date means the later of the Normal Retirement Age or Termination of Employment.

  • Single Life Annuity means a Participant’s Grandfathered Benefit and/or 409A Benefit, as applicable, payable as an annuity in equal monthly installments over the life of the Participant, commencing as of the Payment Date and terminating in the month in which the Participant dies, with no further payments thereafter.

  • Interest Commencement Date means the Issue Date of the Notes or such other date as may be specified as the Interest Commencement Date in the relevant Final Terms;

  • life cycle means all consecutive and/or interlinked stages, including research and development to be carried out, production, trading and its conditions, transport, use and maintenance, throughout the existence of the product or the works or the provision of the service, from raw material acquisition or generation of resources to disposal, clearance and end of service or utilisation;

  • completed year of service means continuous service for one year;

  • One-hundred-year flood means a flood having a one per cent chance of being equaled or exceeded in any given year.

  • Bill Due Date means thirty (30) calendar days from the bill date.

  • Late Retirement Date means the first day of the month coinciding with or next following a Participant's actual Retirement Date after having reached his Normal Retirement Date.

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • In-Service Date means the date on which the Facility and System Modifications (if applicable) are complete and ready for service, even if the Facility is not placed in service on or by that date.

  • Benefit Distribution Date means the date upon which all or an objectively determinable portion of a Participant’s vested benefits will become eligible for distribution. Except as otherwise provided in the Plan, a Participant’s Benefit Distribution Date shall be determined based on the earliest to occur of an event or scheduled date set forth in Articles 4 through 9, as applicable.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Withdrawal Date Any day during the period commencing on the 18th day of the month of the related Distribution Date (or if such day is not a Business Day, the immediately preceding Business Day) and ending on the last Business Day prior to the 21st day of the month of such Distribution Date. The “related Due Date” for any Withdrawal Date is the Due Date immediately preceding the related Distribution Date.

  • Bill Date The date when a CenturyLink service is billed and/or invoiced to a customer. The Bill Date is generally the date one (1) Day past the billing cycle close date and will appear on any such bill or invoice.

  • Postponed Retirement Date means the first day of the month coincident with or next following a Participant’s date of actual retirement which occurs after his Normal Retirement Date.

  • Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).

  • Social Security Retirement Age means the age used as the retirement age under Section 216(l) of the Social Security Act, applied without regard to the age increase factor and as if the early retirement age under Section 216(l)(2) of such Act were 62.