2004-08-25 WS & CC Meeting - Laserfiche WebLink

Home Browse Search

457 Plall~d Trust D9CUJllent The required minimum distribution for any other year must be made by the end of such year. (f) Distribution Upon Death. (1) Death On or After Required Beginning Date. 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: J (A) If the Beneficiary is someone other than the Employee's surviving spouse, the remaining interest will be distr.,ibuted over the remaining life expectancy of the Beneficiary, with such life expectancy determined using the Beneficiary's age as of his or her birthday in the year following the year of the Employee's death, or over the period described in paragraph (1)(C) below iflonger. (B) 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 paragraph (1)(C) below iflonger. 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 birthday in the year of the spouse's death, or, if the distributions are being made over the period described in paragraph (1) (C) below, over such period. (C) If there is no Beneficiary, or if applicable by operation of paragraph (1)(A) or (1)(B) above, the remaining interest will be distributed over the Employee's remaining life expectancy determined in the year of the Employee's death. (D) The amount to be distributed each year under paragraph (1)(A), (B) or (C), beginning with the calendar year following the calendar year of the Employee's death, is the quotient obtained by dividing the value of the IRA as of the end of the preceding year by the remaining life expectancy specified in such paragraph. Life expectancy is determined using the Single Life Table in Q&A-1 of section 1.401 (a)(9)-9 of the Income Single Life 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's or Employee's age in the year specified in paragraph (1) (A), (B) or (C) and reduced by 1 for each subsequent year. . I I (2) . Death Before Required Beginning Date. If the Employee dies before the required beginning date, his or her entire interest will be distributed at least as rapidly as follows: 20