Common use of Required Minimum Distributions After Participant’s Death Clause in Contracts

Required Minimum Distributions After Participant’s Death. (1) If a Participant dies on or after the date distributions begin and there is a “designated beneficiary,” 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 longer of the remaining “life expectancy” of the Participant or the remaining “life expectancy” of the Participant’s “designated beneficiary,” determined as follows: (A) The Participant’s remaining “life expectancy” is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year. (B) If the Participant’s surviving Spouse is the Participant’s sole “designated beneficiary,” the remaining life expectancy of the surviving Spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving Spouse’s age as of the Spouse’s birthday in that year. For “distribution calendar years” after the year of the surviving Spouse’s death, the remaining “life expectancy” of the surviving Spouse is calculated using the age of the surviving Spouse as of the Spouse’s birthday in the calendar year of the Spouse’s death, reduced by one for each subsequent calendar year. (C) If the Participant’s surviving Spouse is not the Participant’s sole “designated beneficiary,” the “designated beneficiary’s” remaining “life expectancy” is calculated using the age of the “designated beneficiary” in the year following the year of the Participant’s death, reduced by one for each subsequent year. (2) If the Participant dies on or after the date distributions begin and there is no “designated beneficiary” as of September 30 of the year after the year of the Participant’s death, the minimum amount

Required Minimum Distributions After Participant’s Death. (1a) Death on or after date distributions begin: (i) If a the Participant dies on or after the date distributions begin and there is a “designated beneficiary,” Designated Beneficiary, the minimum amount that will be distributed for each “distribution calendar year” Distribution Calendar Year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s “account balance” Account balance by the longer of the remaining “life expectancy” Life Expectancy of the Participant or the remaining “life expectancy” Life Expectancy of the Participant’s “designated beneficiary,” Designated Beneficiary, determined as follows: (A) The Participant’s remaining “life expectancy” Life Expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year. (B) If the Participant’s surviving Spouse is the Participant’s sole “designated beneficiary,” Designated Beneficiary, the remaining life expectancy Life Expectancy of the surviving Spouse is calculated for each distribution calendar year Distribution Calendar Year after the year of the Participant’s death using the surviving Spouse’s age as of the Spouse’s birthday in that year. For “distribution calendar years” Distribution Calendar Years after the year of the surviving Spouse’s death, the remaining “life expectancy” Life Expectancy of the surviving Spouse is calculated using the age of the surviving Spouse as of the Spouse’s birthday in the calendar year of the Spouse’s death, reduced by one for each subsequent calendar year. (C) If the Participant’s surviving Spouse is not the Participant’s sole “designated beneficiary,” Designated Beneficiary, the “designated beneficiary’s” Designated Beneficiary’s remaining “life expectancy” Life Expectancy is calculated using the age of the “designated beneficiary” Beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year. (2ii) If the Participant dies on or after the date distributions begin and there is no “designated beneficiary” Designated Beneficiary as of September 30 of the year after the year of the Participant’s death, the minimum amountamount 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 Participant’s remaining Life Expectancy calculated using the age of the Participant in the year of death, reduced by one for each subsequent year. (b) Death before date distributions begin: (i) If the Participant dies before the date distributions begin and there is a Designated Beneficiary, then, unless the election described in paragraph (d) of Subsection (3) above is made, 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 paragraph (a) above. (ii) If the Participant dies before the date distributions begin and there is no Designated Beneficiary as of September 30 of the year following the year of the Participant’s death, distribution of the Participant’s entire vested interest will be completed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death. (iii) If the Participant dies before the date distributions begin, the Participant’s surviving Spouse is the Participant’s sole Designated Beneficiary, and the surviving Spouse dies before distributions are required to begin to the surviving Spouse under subparagraph (i) of Subsection (3)(b) above, this paragraph (b) will apply as if the surviving Spouse were the Participant.

Required Minimum Distributions After Participant’s Death. (1) i. If a the Participant dies on or after the date distributions begin begin, and there is a “designated beneficiary,” Designated Beneficiary, the minimum amount that will be distributed for each “distribution calendar year” Distribution Calendar Year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s “account balance” Account Balance by the longer of the remaining “life expectancy” Life Expectancy of the Participant or the remaining “life expectancy” Life Expectancy of the Participant’s “designated beneficiary,” Designated Beneficiary, determined as follows: (A) A. The Participant’s remaining “life expectancy” Life Expectancy is calculated by using the age of the Participant in the year of death, reduced by one for each subsequent year. B. If the Participant’s surviving spouse is the Participant’s sole Designated Beneficiary, the remaining Life Expectancy of the surviving spouse is calculated for each Distribution Calendar Year after the year of the Participant’s death using the surviving spouse’s age as of the spouse’s birthday in that year. For Distribution Calendar Years after the year of the surviving spouse’s death, the remaining Life Expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent calendar year. C. If the Participant’s surviving spouse is not the Participant’s sole Designated Beneficiary, the Designated Beneficiary’s remaining Life Expectancy is calculated using the age of the beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year. ii. If the Participant dies on or after the date distributions begin, and there is no Designated Beneficiary as of September 30 of the year after the year of the Participant’s death, 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 Participant’s remaining Life Expectancy calculated using the age of the Participant in the year of death, reduced by one for each subsequent year. (B) iii. If the Participant’s surviving Spouse Participant dies before the date distributions begin, and there is a Designated Beneficiary, the Participant’s sole “designated beneficiary,” the remaining life expectancy of the surviving Spouse is calculated minimum amount that will be distributed for each distribution calendar year Distribution Calendar Year after the year of the Participant’s death using is the surviving Spousequotient obtained by dividing the Participant’s age Account Balance by the remaining Life Expectancy of the Participant’s Designated Beneficiary, determined as provided in paragraph 6.11.d.i. iv. If the Participant dies before the date distributions begin, and there is no Designated Beneficiary as of the Spouse’s birthday in that year. For “distribution calendar years” after the year September 30 of the surviving Spouse’s death, the remaining “life expectancy” of the surviving Spouse is calculated using the age of the surviving Spouse as of the Spouse’s birthday in the calendar year of the Spouse’s death, reduced by one for each subsequent calendar year. (C) If the Participant’s surviving Spouse is not the Participant’s sole “designated beneficiary,” the “designated beneficiary’s” remaining “life expectancy” is calculated using the age of the “designated beneficiary” in the year following the year of the Participant’s death, reduced by one for each subsequent year. (2) If the Participant dies on or after the date distributions begin and there is no “designated beneficiary” as of September 30 distribution of the Participant’s entire vested interest will be completed by December 31 of the calendar year after containing the year fifth anniversary of the Participant’s death. v. If the Participant dies before the date distributions begin, the minimum amountParticipant’s surviving spouse is the Participant’s sole Designated Beneficiary, and the surviving spouse dies before distributions are required to begin to the surviving spouse under subparagraph 6.11.b.ii.A, then paragraphs 6.11.d.iii and 6.11.d.iv shall apply as if the surviving spouse were the Participant.

Required Minimum Distributions After Participant’s Death. (1) i. If a the Participant dies on or after the date distributions begin begin, and there is a “designated beneficiary,” Designated Beneficiary, the minimum amount that will be distributed for each “distribution calendar year” Distribution Calendar Year after the year of the Participant’s 's death is the quotient obtained by dividing the Participant’s “account balance” 's Account Balance by the longer of the remaining “life expectancy” Life Expectancy of the Participant or the remaining “life expectancy” Life Expectancy of the Participant’s “designated beneficiary,” 's Designated Beneficiary, determined as follows: (A) A. The Participant’s 's remaining “life expectancy” Life Expectancy is calculated by using the age of the Participant in the year of death, reduced by one for each subsequent year. B. If the Participant's surviving spouse is the Participant's sole Designated Beneficiary, the remaining Life Expectancy of the surviving spouse is calculated for each Distribution Calendar Year after the year of the Participant's death using the surviving spouse's age as of the spouse's birthday in that year. For Distribution Calendar Years after the year of the surviving spouse's death, the remaining Life Expectancy of the surviving spouse is calculated using the age of the surviving spouse as of the spouse's birthday in the calendar year of the spouse's death, reduced by one for each subsequent calendar year. C. If the Participant's surviving spouse is not the Participant's sole Designated Beneficiary, the Designated Beneficiary's remaining Life Expectancy is calculated using the age of the beneficiary in the year following the year of the Participant's death, reduced by one for each subsequent year. ii. If the Participant dies on or after the date distributions begin, and there is no Designated Beneficiary as of September 30 of the year after the year of the Participant's death, 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 Participant's remaining Life Expectancy calculated using the age of the Participant in the year of death, reduced by one for each subsequent year. (B) iii. If the Participant’s surviving Spouse Participant dies before the date distributions begin, and there is a Designated Beneficiary, the Participant’s sole “designated beneficiary,” the remaining life expectancy of the surviving Spouse is calculated minimum amount that will be distributed for each distribution calendar year Distribution Calendar Year after the year of the Participant’s 's death using is the surviving Spouse’s age 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 6.10.d.i. iv. If the Participant dies before the date distributions begin, and there is no Designated Beneficiary as of the Spouse’s birthday in that year. For “distribution calendar years” after the year September 30 of the surviving Spouse’s death, the remaining “life expectancy” of the surviving Spouse is calculated using the age of the surviving Spouse as of the Spouse’s birthday in the calendar year of the Spouse’s death, reduced by one for each subsequent calendar year. (C) If the Participant’s surviving Spouse is not the Participant’s sole “designated beneficiary,” the “designated beneficiary’s” remaining “life expectancy” is calculated using the age of the “designated beneficiary” in the year following the year of the Participant’s 's death, reduced distribution of the Participant's entire vested interest will be completed by one for each subsequent yearDecember 31 of the calendar year containing the fifth anniversary of the Participant's death. (2) v. If the Participant dies on or after before the date distributions begin and there is no “designated beneficiary” as of September 30 of the year after the year of begin, the Participant’s death's surviving spouse is the Participant's sole Designated Beneficiary, and the minimum amountsurviving spouse dies before distributions are required to begin to the surviving spouse under Section 6.10.b.ii.A, then Sections 6.10.d.iii and 6.10.d.iv shall apply as if the surviving spouse were the Participant.

Required Minimum Distributions After Participant’s Death. Death on or After Date Distributions Begin. If distributions to a Participant have commenced and such Participant dies before his entire interest has been distributed to him, the remaining portion of his interest shall be distributed as follows: (1a) If a the Participant dies on or after the date distributions begin and there is a “designated beneficiary,” , the minimum amount that will be distributed for each “distribution calendar year” year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s “account balance” balance by the longer of the remaining “life expectancy” expectancy of the Participant or the remaining “life expectancy” expectancy of the Participant’s “designated beneficiary,” , determined as follows: (A1) The Participant’s remaining “life expectancy” expectancy is calculated using the age of the Participant in the year of death, reduced by one for each subsequent year. (B2) If the Participant’s surviving Spouse spouse is the Participant’s sole “designated beneficiary,” , the remaining life expectancy of the surviving Spouse spouse is calculated for each distribution calendar year after the year of the Participant’s death using the surviving Spousespouse’s age as of the Spousespouse’s birthday in that year. For “distribution calendar years” years after the year of the surviving Spousespouse’s death, the remaining “life expectancy” expectancy of the surviving Spouse spouse is calculated using the age of the surviving Spouse spouse as of the Spousespouse’s birthday in the calendar year of the Spousespouse’s death, reduced by one for each subsequent calendar year. (C3) If the Participant’s surviving Spouse spouse is not the Participant’s sole “designated beneficiary,” , the “designated beneficiary’s” ’s remaining “life expectancy” expectancy is calculated using the age of the “designated beneficiary” beneficiary in the year following the year of the Participant’s death, reduced by one for each subsequent year. (2b) If the Participant dies on or after the date distributions begin and there is no “designated beneficiary” beneficiary as of September 30 of the year after the year of the Participant’s death, the minimum amountamount 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 Participant’s remaining life expectancy calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.