Common use of MINIMUM DISTRIBUTION REQUIREMENTS FOR BENEFICIARIES Clause in Contracts

MINIMUM DISTRIBUTION REQUIREMENTS FOR BENEFICIARIES. The method of distribution to the Participant's Beneficiary shall satisfy Code 401(a)(9) and the applicable Treasury regulations. If the Participant's death occurs after his or her Required Beginning Date (or if earlier, the date an irrevocable annuity commences to the Participant), the distribution period to the Beneficiary shall not exceed the distribution period which had commenced for the Participant. If the Participant's death occurs prior to his or her Required Beginning Date, the method of distribution to the Beneficiary shall provide for distribution to the Beneficiary over a period not exceeding 5 years after the date of the Participant's death. If the designated Beneficiary is the Participant's surviving spouse, the Trustee may delay distribution until December 31 of the calendar year in which the Participant would have attained age 70 and one half, if later. If the surviving spouse dies after the Participant but before distributions commence to the surviving spouse, the provisions of this Section (other than the immediately preceding sentence) shall be applied as if the surviving spouse were the Participant.