Reso 2010-068 - Laserfiche WebLink

Home

E. In the event of the death of a Participant prior to the commencement of benefit payments under this Plan (excluding any distributions pursuant to the Distributions Upon An Unforeseeable Emergency section, above, or the In-Service Distributions section, above), then the Participant's benefits under the Plan shall be paid tv the Participant's Beneficiary or Beneficiaries in such form(s) as the Beneficiary or Beneficiaries elect from those methods available under the Form Of Distribution subsection, above. F. Notwithstanding anything contained in the Plan to the contrary: 1. If distribution has been commenced to the Participant and the Participant dies before the Participant's entire interest has been distributed, then the remaining portion of the Participant's interest shall be distributed at least as rapidly as under the method of distributions being utilized as of the date of the Participant's death. a. If 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 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: (1) 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. (2) If the Participant's surviving Spouse is the Participant's sole Designated Beneficiary, the remaining life expectancy of the surviving Sp©use 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 far each subsequent calendar year. (3) 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. b. 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. 24