Agenda - 12-07-2009 - 4g - Laserfiche WebLink

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31 and Last Survivor Table in QUA-3 of Section I.401(a) (9)-9 of the Income Tax Regulations, usitzg the ages as of the Emplo}se's and spouse's birthda}=s in the year. (4) The required minimum distribution For the year the Employee attains age 70t/a ctt~ be made as late as April 1 of the following year. The required minimum distribution for any other year must be made by the end of such year. (f) Distribtrtiou Upotr Death. {I) Death On orAfterltequired BegirrrringDate. If the Employee dies on or after the required beginning date, the remaining portion of his or her interest will be distributed at least as rapidly as follows: (i} If the Beneficiary is someone other than the Employee's surviving spouse, the remaining interest will be distributed over the remaining life expectancy of the Beneficiary, with such Life expectancy determined using the Bene&ciary's age as of his or her birthday in the }•ear following the yrear of the Employee's death, or Duet the period described in paragraph (I)(iii) below if longer. (ii) If the Employee's sole Beneficiary is the Employee's surviving spouse, the remaining interest will be distributed over such spouse's life or over the period described in paragrtph (I}(iii} below if longer. Any interest remaining after such spouse's death will be distributed over such spouse's remaining Life expectancy determined using the spouse's age as of his or her Girthda}• in the year of the spouse's death, or, if the distributions are being made over the period described in paragraph (1)(iii} below, over such period. (iii) if there is no Beneficiary, or if applicable by operation of paragraph (1)(i) or (I){ii) above, the remaining interest will be distributed over the Employee's remaining life expectancy determined in the year of the Employee's death. (iv) The amount to be distributed each year under paragraph (1)(i), (ii), or (iii}, beginning with the calendar year following the calendar year of the Employee's death, is the quotient obtained by dividing the value of the IItA as of the end of the preceding }*ear by the remaining life expectancy specified in such paragraph. Life expectancy is determined using the Single Life Table in Q&A-t of Section 1.401(a)(9)-9 of the Income Tax Regulations. if distributions are being made to a surviving spouse as the sole Beneficiary, such spouse's remaining life expectancy for a year is the number in the Single Life Table corresponding to such spouse's age in the year. In all other cases, remaining life expectancy for a year is the number in the Single Life Table corresponding to the Beneficiary'sar Employee's age in the year specified in paragraph I (i), (ii), or {iii} and reduced by 1 for each subsequent year. {2) DeatG Before Required Begixnting 1?ate. if the Employee dies before the required beginning date, his or her entire intcrest will be distributed at least as rapidly as (allows: (i} If the Beneficiary is someone other than the Employee's surviving spouse, the entire interest will be distributed, starting by the end of the calendar year following the calendar year of the Employee's death, over the remaining life expectancy of the Beneficiary; with such life expectancy determined using the age of the Beneficiary as of his or her birthday in the year following the year of the Employee's death, or, if elected, in accordance with paragraph {2)(iii) below (ii) If the Employee's sole Beneficiary is the Employees surviving spouse, the entire intcrest will be distributed, starting by the end of the calendar year following the calendar }=ear of the Employee's death (or by the end of the calendar year in which the Emplo}=ee ~vottld have attained age 70t/z, if later}, over such spouse's life, or, if elected, in accordance with paragraph (2}(iii) beloZ~: If the surviving spouse dies before distributions are required to begin, the 16