Required Beginning. Date shall mean the April 1 ----------------------- following the close of the calendar year in which the Participant attains age 70 1/2. However, if the Participant, prior to separating from Service, attained age 70 1/2 before January 1, 1988, and, for the five Plan Year period ending in the calendar year in which the Participant attained age 70 1/2 and for all subsequent years, the Participant did not own more than 5% of the Employer, the Required Beginning Date shall be the April 1 following the close of the calendar year in which the Participant separates from Service or, if earlier, the April 1 following the close of the calendar year in which the Participant owns more than 5% of the Employer. Furthermore, if a Participant who did not own more than 5% of the Employer attained age 70 1/2 during 1988 and did not separate from Service prior to January 1, 1989, the Participant's Required Beginning Date shall be April 1, 1990. A mandatory distribution at the Participant's Required Beginning Date shall be in lump sum (or the annuity form of distribution, if required under Section 6.08) unless the Participant makes a valid election to receive an alternative form of distribution.
Required Beginning. DATE The date specified in paragraph 1.88 of the Basic Plan Document #01.
Required Beginning. Date shall mean (i) with respect to a Participant who attained age 70-1/2 during 1988, and who had not retired by January 1, 1989, Aprix 0, 0000, (xx) xxxh respect to a Participant who attains age 70-1/2 on or after January 1, 1989, the April 1st of the calendar year following the year in which the Participant attains age 70-1/2, and (iii) with respect to a Participant who attained age 70-1/2 before January 1, 1988, the April 1st of the calendar year following the later of the calendar year in which the Participant retires or attains age 70-1/2.
Examples of Required Beginning in a sentence
The Participant’s entire interest will be distributed, or begin to be distributed, to the Participant no later than the Participant’s Required Beginning Date.
For distributions beginning before the Participant’s death, the first Distribution Calendar Year is the calendar year immediately preceding the calendar year which contains the Participant’s Required Beginning Date.
However, if the Owner dies on or after the Required Beginning Date, such Applicable Distribution Period shall not be shorter than the Applicable Distribution Period measured by using the Owner’s remaining Life Expectancy in accordance with paragraph 9(b) above and Reg.
The required minimum distribution for the Participant’s first Distribution Calendar Year will be made on or before the Participant’s Required Beginning Date.
The required minimum distribution for other Distribution Calendar Years, including the required minimum distribution for the Distribution Calendar Year in which the Participant’s Required Beginning Date occurs, will be made on or before December 31 of that Distribution Calendar Year.
More Definitions of Required Beginning
Required Beginning. DATE The date specified in paragraph 1.88 of the Basic Plan Document #01. CODE SECTION 125 MODEL AMENDMENT The following is a model amendment that a sponsor of a qualified plan may choose to adopt if the Employer sponsor maintains a health program in conjunction with a Section 125 arrangement but permits an Employee to elect cash in lieu of group health coverage, only if the Employee is able to certify that he or she has other health coverage. The use of this amendment will generally also apply to the definition of Compensation for purposes of Code Section 414(s) unless the plan otherwise specifically excludes all amounts described in Code Section 414(s)(2). A prototype plan may be amended by the document's Sponsor to use the alternative definition of Compensation to the extent authorized. Alternatively, adopting Employers may adopt a Plan amendment as an addendum to the Plan. The inclusion of the Model Plan Amendment below as an addendum to a Plan adopted to comply with EGTRRA, will not cause a prototype Plan to be treated as an individually designed plan. A Plan Sponsor that adopts the Model Amendment verbatim (or with only minor changes) will have reliance that the form of its Plan satisfies the requirements of this Revenue Ruling, and the adoption of such an amendment will not adversely affect the Plan Sponsor's or the adopting Employer's reliance on a favorable determination, or opinion letter. IRS MODEL AMENDMENT CODE SECTION 125 "DEEMED CONTRIBUTIONS" PROTOTYPE DEFINED CONTRIBUTION PLAN BASIC PLAN DOCUMENT #01 Pursuant to Article XV, paragraph 15.1 of the Prototype Basic Plan Document #01 and in accordance with Revenue Ruling 2002-27, the Basic Plan Document #01 is amended as follows effective for Plan Years and Limitation Years beginning on or after January 1, 2002, except that, for any such Employer sponsors of the Plan who operated the Plan in accordance with the definition below prior to January 1, 2002 and in Plan Years beginning on or after January 1, 1998, such amendment is also effective for all years during such period in which the Plan operated in accordance with this definition. For purposes of the definition of Compensation under paragraph 1.16, amounts under Code Section 125 include any amounts not available to a Participant in cash in lieu of group health coverage because the Participant is unable to certify that he or she has other health coverage. An amount will be treated as an amount under Code Section 125 only if the Employer does...
Required Beginning. Date If this is a SEP IRA contract, your required beginning date is the first day of April following the calendar year you reach age 70-1/2.
Required Beginning. Date is defined in Section 5.2.3. ----------------------- Rollover Contribution means an amount received from a deferred --------------------- compensation plan that is qualified under Code Section 401 or 403(a), and which is rolled over to the Plan pursuant to Code Section 402(c). A Rollover Contribution can be either a Direct Rollover or an amount distributed to a Participant and then rolled over. In addition, if an Employee had deposited an Eligible Rollover Distribution into an individual retirement account as defined in Code Section 408, he or she may transfer the amount of the distribution plus earnings from the individual retirement account to the Plan, if the rollover amount is deposited with the Trustee within 60 days after receipt from the individual retirement account, and the rollover meets the other requirements of Code Section 408(d)(3)(A)(ii). Rollover Contribution Account means the Account established for a ----------------------------- Participant pursuant to Section 3.6.3.
Required Beginning. Date shall mean the April 1 following the close of the calendar year in which the Participant attains age 70-1/2, if the Participant is a more than 5% owner with respect to the Plan Year ending in that calendar year. For any other Participant, his Required Beginning Date is the April 1 following the close of the calendar year in which the Participant separates from Service or, if later, the April 1 following the close of the calendar year in which the Participant attains age 702. A mandatory distribution at the Participant's Required Beginning Date shall be in lump sum unless the Participant makes a valid election to receive an alternative form of distribution.
Required Beginning. Date shall mean April 1 of the calendar year following the later of (i) the calendar year in which the Participant attains age 70+, or (ii) the calendar year in which the Participant terminates employment with the Employer. Notwithstanding the above, for any Participant who attains age 70+ prior to the Plan Year beginning January 1, 1999, Required Beginning Date shall mean, at the Participant's election, April 1 of the calendar year following (i) the calendar year in which the Participant attains age 70+, or (ii) the calendar year in which the Participant terminates employment with the Employer.
Required Beginning. DATE shall have the meaning assigned to it by Section 6.03.
Required Beginning. Date The date on which a Participant is required to take his or her first minimum distribution under the Plan. The rules are set forth at paragraph 7.5.