Defined Contribution Plan Document
ARTICLE XV
MINIMUM DISTRIBUTION REQUIREMENTS
Section 5. Definitions
- Designated Beneficiary. The term "designated beneficiary" means the
individual who is designated as the Participant's Beneficiary under Article
VIII, Section 4 of the Plan and is the designated beneficiary under Section
401(a)(9) of the Internal Revenue Code and Section 1.401(a)(9)-1, Q&A-
4, of the Treasury Regulations.
- Distribution Calendar Year. The term "distribution calendar year" means
a calendar year for which a minimum distribution is required. For
distributions beginning before the Participant's death, the first "distribution calendar year" is the calendar year immediately preceding the
calendar year which contains the Participant's Required Beginning Date.
For distributions beginning after the Participant's death, first "distribution
calendar year" is the calendar year in which distributions are required to
begin under Section 2(b). The required minimum distribution for the Participant's first "distribution calendar year" will be made on or before
the Participant's Required Beginning Date. The required minimum
distribution for other "distribution calendar years," including the required
minimum distribution for the "distribution calendar year" in which the
Participant's Required Beginning Date occurs, will be made on or before
December 31 of that "distribution calendar year."
- Life Expectancy. The term "life expectancy" means the life expectancy as
computed by use of the Single Life Table in Section 1.401(a)(9)-9 of the
Treasury Regulations.
- Participant's Account Balance. The term Participant's "Account Balance" means the Account Balance as of the last valuation date in the calendar
year immediately preceding the "distribution calendar year" (the "valuation calendar year") increased by the amount of any contributions
made and allocated or forfeitures allocated to the Account Balance as of
dates in the "valuation calendar year" after the Valuation Date and
decreased by distributions made in the "valuation calendar year" after the
Valuation Date. The Account Balance for the valuation calendar year" includes any amounts rolled over or transferred to the Plan either in the "valuation calendar year" or in the "distribution calendar year" if
distributed or transferred in the "valuation calendar year."
- Required Beginning Date. The date specified in Article V, Section 4(g) of
the Plan.