Common use of Participant Survived by Designated Beneficiary Clause in Contracts

Participant Survived by Designated Beneficiary. Unless the 5-year rule is elected as provided under Section 5.11.4(B)(5) (in which case distribution of the Participant’s entire interest will be completed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death), if the Participant dies before the date distributions begin and there is a Designated ▇▇▇▇▇▇▇▇▇▇▇, the minimum amount that will be distributed for each Distribution Calendar Year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s Account Balance by the remaining life expectancy of the Participant’s Designated Beneficiary, determined as provided in Section 5.11.6(A).