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.