Required Minimum Distribution definition
Required Minimum Distribution. (“RMD”) means a distribution under the “Required Minimum Distribution” rules of Sections 408(b) and 401(a)(9) of the Code, including the Treasury Regulations that apply (the “RMD Rules”). RMD Rules are more fully described in an endorsement applicable to the Contract. Solely for purposes of this Rider, RMD Rules, including the calculation of your RMD amount for a calendar year (“RMD Amount”) are those RMD Rules which are in effect as of [December 31, 2014] . For purposes of this Rider, the RMD Amount is the portion of your required minimum distribution for a calendar year applicable to your PBA.
Required Minimum Distribution. If a Contract is purchased as an IRA Contract or Qualified Contract, the Owner's benefits under the Contract must satisfy the Required Minimum Distribution rules as provided for by various provisions of the Code.
Required Minimum Distribution. (RMD) means the amount defined by the Internal Revenue Code as the minimum lifetime distribution requirement that applies to the contract associated with this rider only.
Examples of Required Minimum Distribution in a sentence
If you are eligible for a Required Minimum Distribution Option, you may convert to that option at any time but payments under the Required Minimum Distribution Option will be reduced by all ESP Program payments and other withdrawals for the year.
I am responsible for converting to a Required Minimum Distribution option or a settlement option at that time.
Generally, if your spouse is the designated beneficiary, distributions need not commence until December 31 of the year you would have attained RMD age (as described in the Required Minimum Distribution section above), if later.
You may not convert any portion of a Required Minimum Distribution (RMD).
Required Minimum Distribution (RMD) This provision applies if your contract is a Qualified Contract and is subject to required minimum distribution (RMD) provisions pursuant to the Internal Revenue Code (the "Code"), as amended from time to time, and the Treasury Regulations issued thereunder.
More Definitions of Required Minimum Distribution
Required Minimum Distribution or “RMD” refers to the amount that certain IRA owners and qualified plan participants must begin distributing from their retirement accounts as mandated by the Internal Revenue Code section 401(a)(9).
Required Minimum Distribution for any year means, with respect to any retirement benefit: (1) the value of the retirement benefit as of the preceding year- end, divided by (2) the applicable distribution period; or such greater or lesser amount as the trustee shall be required to withdraw under the laws then applicable to this trust to avoid penalty. Notwithstanding the foregoing, the required minimum distribution for the year of my death shall mean (1) the amount that was required to be distributed to me with respect to such benefit during such year under the minimum distribution rules, minus (2) amounts actually distributed to me with respect to such benefit during such year.v
Required Minimum Distribution means, for the purposes of this Endorsement, the amount required to be distributed to a plan participant in a tax qualified retirement plan under the provisions of section 401(a)(9), 403(b)(10), 408(b)(3), and 408A(b), as modified by 408A(c)(5), or their successor sections, associated with, and only associated with, the value of the annuity contract to which this endorsement is attached. You - means, for the purposes of this Endorsement, both the owner of the contract as well as the spouse of the owner if he or she: (1) is the beneficiary of the contract, (2) elects to continue the contract, and (3) is subject to Required Minimum Distributions.
Required Minimum Distribution. When a Spouse is the Sole Beneficiary. If your spouse is more than 10 years younger than you, you may figure the required minimum distribution based on your joint life expectancy. To qualify, your spouse must be the sole beneficiary of your IRA account at all times during the year for which the distribu- tions are being made. (If your spouse was your sole beneficiary in a year until the time you are divorced or widowed, you may still determine your required minimum distribution for that year using your joint life expectancy. Consult your tax advisor for additional information.) If you qualify, your required minimum distribution for each year is cal- culated in the same manner as above, except that the distribution peri- od is based on your joint life expectancy. The distribution period is the number at the intersection of the ages of you and your spouse (as of
Required Minimum Distribution for any year means, with respect to any retirement benefit: (1) the value of the retirement benefit as of the preceding year-end, divided by (2) the applicable distribution period; or such greater or lesser amount as the trustee shall be required to withdraw under the laws then applicable to this trust to avoid penalty. Notwithstanding the foregoing, the required minimum distribution for the year of my death shall mean
Required Minimum Distribution or “RMD” means the amount required to be distributed from a Plan in a given calendar year pursuant to the minimum distribution requirements of Code section 401(a)(9) and the regulations thereunder.
Required Minimum Distribution means annual distributions at the minimum amount required in IRC section 401(a)(9). This man- ner of distribution is available only to a participant who defers dis- tribution to age 70-1/2 (no later than April of the year following the year reaching 70-1/2 years of age) or a participant who continues deferrals and terminates after 70-1/2 years of age.