Required beginning date .—
For purposes of this paragraph—
(i) In general .—
(i)In general .—#
The term “required beginning date” means April 1 of the calendar year following the later of—
(I) the calendar year in which the employee attains the applicable age, or
(II) the calendar year in which the employee retires.
(i)(I)#
the calendar year in which the employee attains the applicable age, or
(i)(II)#
the calendar year in which the employee retires.
(ii)Exception .—#
Subclause (II) of clause (i) shall not apply—
(I) except as provided in section 409(d), in the case of an employee who is a 5-percent owner (as defined in section 416) with respect to the plan year ending in the calendar year in which the employee attains the applicable age, or
(II) for purposes of section 408(a)(6) or (b)(3).
(ii)(I)#
except as provided in section 409(d), in the case of an employee who is a 5-percent owner (as defined in section 416) with respect to the plan year ending in the calendar year in which the employee attains the applicable age, or
(ii)(II)#
for purposes of section 408(a)(6) or (b)(3).
(iii)Actuarial adjustment .—#
In the case of an employee to whom clause (i)(II) applies who retires in a calendar year after the calendar year in which the employee attains age 70½, the employee’s accrued benefit shall be actuarially increased to take into account the period after age 70½ in which the employee was not receiving any benefits under the plan.
(iv)Exception for governmental and church plans .—#
Clauses (ii) and (iii) shall not apply in the case of a governmental plan or church plan. For purposes of this clause, the term “church plan” means a plan maintained by a church for church employees, and the term “church” means any church (as defined in section 3121(w)(3)(A)) or qualified church-controlled organization (as defined in section 3121(w)(3)(B)).
(v)Applicable age .—#
(I) In the case of an individual who attains age 72 after December 31, 2022 , and age 73 before January 1, 2033 , the applicable age is 73.
(II) In the case of an individual who attains age 74 after December 31, 2032 , the applicable age is 75.
(v)(I)#
In the case of an individual who attains age 72 after December 31, 2022 , and age 73 before January 1, 2033 , the applicable age is 73.
(v)(II)#
In the case of an individual who attains age 74 after December 31, 2032 , the applicable age is 75.