In general .—
A trust shall not constitute a qualified trust under this subsection unless the plan provides that the entire interest of each employee—
(i)#
will be distributed to such employee not later than the required beginning date, or
(ii)#
will be distributed, beginning not later than the required beginning date, in accordance with regulations, over the life of such employee or over the lives of such employee and a designated beneficiary (or over a period not extending beyond the life expectancy of such employee or the life expectancy of such employee and a designated beneficiary).