Laserfiche WebLink
surviving spouse is calculated for each "distribution calendar year" <br />after the year of the Participant's death using the surviving spouse's <br />age as of the spouse's birthday in that year. For "distribution <br />calendar years" after the year of the surviving spouse's death, the <br />remaining "life expectancy" of the surviving spouse is calculated <br />using the age of the surviving spouse as of the spouse's birthday in <br />the calendar year of the spouse's death, reduced by one for each <br />subsequent calendar year. <br />(3) If the Participant's surviving spouse is not the Participant's sole <br />"designated Beneficiary" (i.e., multiple beneficiaries), the <br />"designated Beneficiary's" remaining "life expectancy" is <br />calculated using the age of the oldest Beneficiary in the year <br />following the year of the Participant's death, reduced by one for <br />each subsequent year. <br />(4) If the Participant's sole "designated Beneficiary" is not the <br />Participant's spouse, the "designated Beneficiary's" remaining "life <br />expectancy" is calculated using the age of the Beneficiary in the <br />year following the year of the Participant's death, reduced by one <br />for each subsequent year. <br />(B) No Designated Beneficiary. <br />If the Participant dies on or after the date distributions begin and there is <br />no "designated Beneficiary" as of September 30 of the year after the year <br />of the Participant's death, the minimum amount that will be distributed for <br />each "distribution calendar year" after the year of the Participant's death is <br />the quotient obtained by dividing the "Participant's Account Balance" by <br />the Participant's remaining "life expectancy" calculated using the age of <br />the Participant in the year of death, reduced by one for each subsequent <br />year. <br />(ii) Death Before Date Distributions Begin. <br />(A) Participant Survived by Designated Beneficiary. <br />Except as provided in this Section, if the Participant dies before the date <br />distributions begin and there is a "designated Beneficiary", the minimum <br />amount that will be distributed for each "distribution calendar year" after <br />the year of the Participant's death is the quotient obtained by dividing the <br />"Participant's Account Balance" by the remaining "life expectancy" of the <br />Participant's "designated Beneficiary", determined as follows: <br />(1) If the Participant's surviving spouse is the Participant's sole <br />"designated Beneficiary", the remaining "life expectancy" of the <br />surviving spouse is calculated for each "distribution calendar year" <br />19 <br />Specimen 457(b) Plan Document <br />Deferred Compensation Plan <br />