Reso 2010-068 - Laserfiche WebLink

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2. If the Participant dies before the distribution of the Participant's interest has begun pursuant to the Required Minimum Distributions subsection, above, the Participant's entire interest will be distributed, or begin to be distributed, no later than as follows: a. If the Participant's surviving Spouse is the Participant's sole Designated Beneficiary, then distributions to the surviving Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died, or by December 31 of the calendar year in which the Participant would have attained age seventy and one-half (70-1/2), if later. 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 surviving Spouse. b. If the Participant's surviving Spouse is not the Participant's sole Designated Beneficiary, then distributions to the Designated Beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the Participant died. 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. c. If there is no Designated Beneficiary as of September 30 of the year following the year of the Participant's death, the Participant's entire interest will be distributed by December 31 of the calendar year containing the fifth (5th) anniversary of the Participant's death. d. If the Participant's surviving Spouse is the Participant's sole Designated Beneficiary and the surviving Spouse dies after the Participant but before distributions to the surviving Spouse begin, this subsection will apply as if the surviving Spouse were the Participant. 3. For purposes of this subsection, distributions are considered to begin on the Participant's Required Beginning Date; provided, however, that if the Participant's surviving Spouse is the Participant's sole Designated Beneficiary and the surviving Spouse dies after the Participant but before distributions to the surviving Spouse begin, distributions are considered to begin on the date distributions are required to begin to the surviving Spouse under subparagraph a of paragraph 2, above. 4. If the Participant dies before the distribution of the Participant's interest has begun pursuant to the Required Minimum Distributions subsection, above, and there is a Designated Beneficiary, the Participant or the Participant's Beneficiaries may elect, on an individual basis, whether the five (5)-year rule or the life expectancy rule set forth above applies to distributions after the death of a Participant who has a Designated Beneficiary. The election must be made no later than the earlier of (i) September 30 of the calendar year in which distribution would be required to begin, or (ii) September 30 of the calendar year which contains the fifth (5th} anniversary of the Participant's (or, if applicable, surviving Spouse's) death. If neither the Participant .nor the 25