Year Rule Sample Clauses

Year Rule. The 10-Year Rule requires depletion of the inherited funds by the end of the tenth calendar year following the year of your death. If an eligible designated beneficiary elects to take distributions from the Inherited ▇▇▇▇ ▇▇▇ in accordance with the 10-Year Rule, they are not subject to a distribution requirement each year. Life Expectancy Payments: Under the Life Expectancy Payments option, your beneficiary must withdraw a minimum amount each year beginning in the calendar year following your death. To determine the minimum required distribution amount for a given year, the ▇▇▇▇ ▇▇▇ balance (i.e., generally the fair market value of the Inherited ▇▇▇▇ ▇▇▇ on December 31 of the preceding year) is divided by the applicable denominator. The applicable denominator is derived from the Single Life Expectancy table. For the first distribution year, the life expectancy used is the single life expectancy that corresponds to the age the beneficiary attains on their birthday in the calendar year following the year of your death. Once the applicable denominator is determined for the first distribution year, it is reduced by one in each succeeding year. The life expectancy payment is the required minimum amount to be withdrawn each year; the eligible designated beneficiary may always withdraw an additional amount, including a lump-sum distribution of the remaining balance. If your child, who is under age 21 at the time of your death, elects to take distributions in accordance with the Life Expectancy Payments option, they must generally deplete the entire Inherited ▇▇▇▇ ▇▇▇ by December 31 of year they attain age 31. However, this deadline does not apply if your child is disabled or chronically at the time of your death and required documentation is provided to the ▇▇▇▇ ▇▇▇ Custodian by the applicable deadline. Noneligible Designated Beneficiary Your noneligible designated beneficiary is required to take distribution of the Inherited ▇▇▇▇ ▇▇▇ under the 10-Year Rule. The 10-Year Rule requires depletion of the inherited ▇▇▇▇ ▇▇▇ funds by the end of the tenth calendar year following your death. Under a ▇▇▇▇ ▇▇▇, noneligible designated beneficiaries taking distributions in accordance with the 10-Year Rule are not subject to a minimum distribution requirement each year. Nonperson Beneficiary Your nonperson beneficiary is required to take distribution of the Inherited ▇▇▇▇ ▇▇▇ under the 5-Year Rule. The 5-Year Rule requires depletion of the Inherited ▇▇▇▇ ▇▇▇ by the end of the...

Year Rule. The 10-Year Rule requires depletion of the inherited funds by the end of the tenth calendar year following your death. If your spouse beneficiary elects to take distributions from the Inherited ▇▇▇▇ ▇▇▇ in accordance with the 10-Year Rule, they are not subject to a distribution requirement each year. Life Expectancy Payments: year beginning in the calendar year following your death. However, if your surviving spouse is your sole designated beneficiary, they may generally elect to delay the first distribution until the year you would have attained RMD age (i.e., age 72 if born after June 30, 1949, but before January 1, 1951, age 73 if born after December 31, 1950, and before January 1, 1960, and age 75 if born after December 31, 1959). The life expectancy payment is the required minimum amount to be withdrawn each year; your spouse beneficiary may always withdraw an additional amount, including a lump-sum distribution of the remaining balance.

Year Rule. The 10-Year Rule requires depletion of the inherited funds by the end of the tenth calendar year following the year of your death. If an eligible designated beneficiary elects to take distributions from the Inherited ▇▇▇▇ ▇▇▇ in accordance with the 10-Year Rule, they are not subject to a distribution requirement each year. Life Expectancy Payments: Under the Life Expectancy Payments option, your beneficiary must withdraw a minimum amount each year beginning in the calendar year following your death. To determine the minimum required distribution amount for a given year, the ▇▇▇▇ ▇▇▇ balance (i.e., generally the fair market value of the Inherited ▇▇▇▇ ▇▇▇ on December 31 of the preceding year) is divided by the applicable denominator. The applicable denominator is derived from the

Year Rule. The 10-Year Rule requires depletion of the inherited funds by the end of the tenth calendar year following your death. If your spouse beneficiary elects to take distributions from the Inherited ▇▇▇▇ ▇▇▇ in accordance with the 10- Year Rule, they are not subject to a distribution requirement each year. Life Expectancy Payments: Under the Life Expectancy Payments option, your spouse beneficiary must withdraw a minimum amount each year beginning in the calendar year following your death. However, if your surviving spouse is your sole designated beneficiary, they may generally elect to delay the first distribution until the year you would have attained RMD age (i.e., age 72 if born after June 30, 1949, but before January 1, 1951, age 73 if born after December 31, 1950, and before January 1, 1960, and age 75 if born after December 31, 1959). The life expectancy payment is the required minimum amount to be withdrawn each year; your spouse beneficiary may always withdraw an additional amount, including a lump-sum distribution of the remaining balance..

Year Rule. If you are employed at least 15 years at the institution, you may be able to elect to defer an additional amount of up to $3,000 per year, subject to a lifetime maximum of $15,000.

Year Rule. The 10-Year Rule requires depletion of the inherited funds by the end of the tenth calendar year following your death. If your spouse beneficiary elects to take distributions from the Inherited ▇▇▇▇ ▇▇▇ in accordance with the 10-Year Rule, they are not subject to a distribution requirement each year. Life Expectancy Payments: Under the Life Expectancy Payments option, your spouse beneficiary must withdraw a minimum amount each year beginning in the calendar year following your death (or, if later, the year you would have been required to begin taking RMDs from a Traditional IRA). If your date of birth is before January 1, 1951, you would have been required to take RMDs from a Traditional IRA beginning in the year you attain age 72. If your date of birth is after December 31, 1950, and before January 1, 1960, you would have been required to take RMDs from a Traditional IRA beginning in the year you attain age 73. If your date of birth is after January 1, 1960, you would have been required to take RMDs from a Traditional IRA beginning in the year you attain age 75. To determine the minimum required distribution amount for a given year, the ▇▇▇▇ ▇▇▇ balance (i.e., generally the fair market value of the Inherited ▇▇▇▇ ▇▇▇ on December 31 of the preceding year) is divided by the applicable denominator. The applicable denominator used to calculate the life expectancy payment is derived from the Single Life Expectancy table. The life expectancy used is the single life expectancy that corresponds to the age your spouse attains on their birthday in that distribution year. The life expectancy payment is the required minimum amount to be withdrawn each year; your spouse beneficiary may always withdraw an additional amount, including a lump- sum distribution of the remaining balance.

Year Rule. In 1966, when the first list of properties in the National Register was established, it contained a total of 868 resources, and of those, 24 met Criteria Consideration “G,” which states that a property achieving significance within the past 50 years is eligible if it is of exceptional importance. Thus when the National Register was first established, less than 3 percent of the resources were “underage.” Almost 40 years later, this percentage remains nearly the same. According to the Recent Past Preservation Network, “as of January 2003, 2,332 of the nearly 76,000 listings in the National Register have been nominated under Criteria Consideration G.” Because the National Register allows for buildings to be nominated for their national, state or local significance, it greatly expands the category of what can be considered exceptionally significant. Yet, despite this provision for underage resources, many people mistakenly believe a building must be 50 years old to be listed in the National Register. In other instances, neither the local community nor the state historic preservation office consider resources younger than 50 years old to be even worthy of consideration, and so they are likely to show bias in evaluating them or to reject the nomination outright. The National Register is a valuable preservation tool, but in large part it is essentially a voluntary program for the private citizen and can do little to prevent demolition or alteration by private individuals. Generally, the only way to prevent demolition resulting from a nonfederal action is through a local landmark designation program or zoning overlay program that has the authority to prevent demolition. But while the National Register allows for properties less than 50 years old to be listed, many local governments impose a 50-year rule without exceptions. Thus, a property could be listed in the National Register but not be eligible for local landmark designation. Consequently, the biggest problem that many of these resources face is that they lack real protection at the local level. Gaining historic designation, whether at the national, state, or local level, provides credibility -- a key tool for building public support. Without this, advocating for an underage resource is far more challenging. Preservation of the recent past is by no means a new topic. Indeed since the preservation movement began, “underage resources” have always been threatened, the most notable example being Pennsylvania Stat...

Year Rule. If the Accountholder dies before his/her Annuity Commencement Date, the entire interest of the Accountholder shall be distributed within five years after the death of the Accountholder. This rule will always apply to non-individual entities, including, but not limited to, trusts and estates.

Year Rule. Unless the Employer elects otherwise below, beneficiaries of Applicable Participant Accounts will have the option to extend distribution under the 5-Year Rule by one year, and in the absence of a beneficiary election the extension will apply.