The Internal Revenue Code and regulations allow a beneficiary of a pension plan to stretch out required minimum distributions (RMDs) over her life expectancy. This is an important tax benefit, because the beneficiary is taxed only on payments as she receives them. Despite these generous tax law provisions, many pension plans, for administrative convenience, require a beneficiary of a deceased plan member to take out the entire death benefit in a lump sum or over as little as five years, thus
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