Avis 2008 Annual Report Download - page 225

(b) if the designated beneficiary is the Member’s surviving spouse, the date distributions are required to begin in accordance with
(a) above shall not be earlier than the later of (1) December 31 of the calendar year immediately following the calendar year in which the
Member died and (2) December 31 of the calendar year in which the Member would have attained age 70
1
/ 2 .
7.7.6 (i) Final Regulations.
(a) Effective Date. The provisions of this Final Regulations Section will apply for purposes of determining required minimum
distributions for calendar years beginning with the 2003 calendar year.
(b) Precedence. The requirements of this Final Regulations Section will take precedence over any inconsistent provisions of the Plan.
(c) Requirements of Treasury Regulations Incorporated. All distributions required under this Final Regulations Section will be
determined and made in accordance with the Treasury regulations under section 401(a)(9) of the Code.
(d) TEFRA Section 242(b)(2) Elections. Notwithstanding the other provisions of this Final Regulations section, other than Section (i)
(d), distributions may be made under a designation made before January 1, 1984, in accordance with section 242(b)(2) of the Tax Equity and
Fiscal Responsibility Act (TEFRA) and the provisions of the plan that relate to section 242(b)(2) of TEFRA.
(ii) Time and Manner of Distribution .
(a) Required Beginning Date. The Member’
s entire interest will be distributed, or begin to be distributed, to the Member no later than
the Member’s required beginning date.
(b) Death of Member Before Distributions Begin. If the Member dies before distributions begin, the Member’s entire interest will be
distributed, or begin to be distributed, no later than as follows:
(1) If the Member’s surviving spouse is the Member’s sole designated beneficiary, then, except as provided in the adoption agreement,
distributions to the surviving spouse will begin by December 31 of the calendar year immediately following the calendar year in which the
Member died, or by December 31 of the calendar year in which the Member would have attained age 70
1
/ 2 , if later.
(2) If the Member’s surviving spouse is not the Member’s sole designated beneficiary, then, except as provided in the adoption agreement,
distributions to the designated beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the
Member died.
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