This excerpt taken from the HBI 8-K filed Sep 5, 2006.
10.09 Minimum Distributions
Distribution of a Participants benefits shall be made or commence by his or her Required Commencement Date. Notwithstanding the foregoing, the Committee may establish procedures to begin minimum distribution payments in the calendar year in which the Participant attains age seventy and one-half (70 1/2). Distributions to a Participant after his or her Required Commencement Date shall be made in installment payments equal to the minimum amount
necessary to meet the requirements of Section 401(a)(9) of the Code. All distributions under the Plan shall comply with the requirements of Section 401(a)(9) of the Code and the regulations thereunder, and shall further comply with the rules described below:
For purposes of this Subparagraph (a) and Subparagraph (c), unless Subparagraph (a)(iv) applies, distributions will be considered to have begun on the Participants Required Commencement Date. If Subparagraph (a)(iv) applies, distributions will be considered to have begun on the date distributions are required to begin to the surviving spouse under Subparagraph (a)(i). Unless the Participants interest is distributed in a single sum on or before the Required Commencement Date, distributions will be made as of the first Distribution Calendar Year in accordance with Subparagraphs (b) and (c) below.
If the Participant dies on or after the date distributions begin and there is no Designated Beneficiary as of September 30 of the year
after the year of the Participants death, the minimum amount that will be distributed for each Distribution Calendar Year after the year of the Participants death is the quotient obtained by dividing the Participants Account Balance by the Participants remaining Life Expectancy calculated using the age of the Participant in the year of death, reduced by one for each subsequent year.
balance of the Participants Accounts for the Valuation Calendar Year includes any amounts rolled over or transferred to the Plan either in the Valuation Calendar Year or in the Distribution Calendar Year if distributed or transferred in the Valuation Calendar Year.