Applicable Life Expectancy. Used in determining the required minimum distribution. The life expectancy (or joint and last survivor expectancy) calculated using the attained age of the Participant (or Designated Beneficiary) as of the Participant's (or Designated Beneficiary's) birthday in the Applicable Calendar Year reduced by one for each calendar year which has elapsed since the date life expectancy was first calculated. If life expectancy is being recalculated, the Applicable Life Expectancy shall be the life expectancy as so recalculated. The life expectancy of a non-Spouse Beneficiary may not be recalculated.
Appears in 5 contracts
Sources: 401(k) Plan Document (East West Bancorp Inc), Adoption Agreement (Professionals Insurance Co Management Group), Adoption Agreement (Shared Technologies Cellular Inc)
Applicable Life Expectancy. Used in determining the required minimum distribution. The life expectancy (or joint and last survivor expectancy) calculated using the attained age of the Participant (or Designated Beneficiary) as of the Participant's (or Designated Beneficiary's) birthday in the Applicable Calendar Year applicable calendar year reduced by one for each calendar year which has elapsed since the date life expectancy was first calculated. If life expectancy is being recalculated, the Applicable Life Expectancy shall be the life expectancy as so recalculated. The life expectancy of a non-Spouse Beneficiary may not be recalculated.
Appears in 3 contracts
Sources: Cash or Deferred Profit Sharing Plan (Port Financial Corp), 401(k) Plan Document (Berkshire Hills Bancorp Inc), Defined Contribution Plan and Trust (First Keystone Corp)
Applicable Life Expectancy. Used in determining the required minimum distribution. The life expectancy (or joint and last survivor expectancy) calculated using the attained age of the Participant (or Designated Beneficiary) as of the Participant's (or Designated Beneficiary's) birthday in the Applicable Calendar Year applicable calendar year reduced by one for each calendar year which has elapsed since the date life expectancy was first calculated. If life expectancy is being recalculated, the Applicable Life Expectancy shall be the life expectancy as so recalculated. The life expectancy of a non-non Spouse Beneficiary may not be recalculated.
Appears in 1 contract