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MassMutual 8/18/2017
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MassMutual 8/18/2017
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Entry Properties
Last modified
10/5/2017 9:28:54 AM
Creation date
10/5/2017 9:28:41 AM
Metadata
Fields
Template:
Contracts
Contractor's Name
MassMutual
Approval Date
8/18/2017
Council Approval Date
8/16/2017
Department
Human Resources
Department Project Manager
Sharon DeHaan
Subject / Project Title
Updated MassMutual 457(b) Plan Document
Tracking Number
0000842
Total Compensation
$0.00
Contract Type
Agreement
Retention Period
6 Years Then Destroy
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is distributed in the form of an annuity contract, distributions thereunder will be <br /> made in accordance with the requirements of Code Section 401(a)(9). <br /> (c) Required Minimum Distributions During the Participant's Lifetime. <br /> (i) Amount of Required Minimum Distribution For Each "Distribution Calendar <br /> Year". During the Participant's lifetime,the minimum amount that will be <br /> distributed for each distribution calendar year is the lesser of: <br /> (A) The quotient obtained by dividing the"Participant's account balance"by the <br /> distribution period in the Uniform Lifetime Table set forth in Treasury <br /> Regulation Section 1.401(a)(9)-9, Q&A-2 using the Participant's age as of <br /> the Participant's birthday in the "distribution calendar year"; or <br /> (B) if the Participant's sole "designated Beneficiary" for the "distribution <br /> calendar year" is the Participant's spouse and the spouse is more than 10 <br /> years younger than the Participant,the quotient obtained by dividing the <br /> "Participant's account balance" by the distribution period in the Joint and <br /> Last Survivor Table set forth in Treasury Regulation Section 1.401(a)(9)-9, <br /> Q&A-3 using the Participant's and spouse's attained ages as of the <br /> Participant's and spouse's birthdays in the "distribution calendar year". <br /> (ii) Lifetime Required Minimum Distributions Continue Through Year of Participant's <br /> Death. Required minimum distributions will be determined under this paragraph <br /> (c)beginning with the first"distribution calendar year" and up to and including the <br /> "distribution calendar year" that includes the Participant's date of death. <br /> (d) Required Minimum Distributions After Participant's Death. <br /> For purposes of this Section 6.6(d),the Participant's and Beneficiary's "life expectancy" <br /> determination will use the Single Life Table set forth in Treasury Regulation Section <br /> 1.401(a)(9)-9, Q&A-1. <br /> (i) Death On or After Date Distributions Begin. <br /> (A) Participant Survived by Designated Beneficiary. <br /> If the Participant dies on or after the date distributions begin and there is a <br /> "designated Beneficiary",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 the <br /> longer of the remaining "life expectancy" of the Participant or the <br /> remaining "life expectancy" of the Participant's "designated Beneficiary", <br /> determined as follows: <br /> 18 <br /> GN-107672 Specimen 457(b)Plan Document <br /> GPLANLVL—CORRSPND Deferred Compensation Plan <br /> Ver 102011 <br />
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