Your required beginning date is the April 1 of the calendar year immediately following the calendar year in which you reach age 70½. Once you reach this date, you must begin receiving at least the required minimum distribution (RMD) each calendar year. The calculation of the RMD divides your account balance by a factor based on life expectancies for you individually or jointly with your spouse. These RMDs will be calculated each calendar year and distributed to you. You or your beneficiary must receive the RMD in the year of your death.

After you die, your beneficiary must continue to receive the RMD annually, which would be recalculated based on your beneficiary’s age. In addition, your beneficiary may elect a complete withdrawal of the annuity account balance in lieu of the RMD.