plan, the $450,000 amount under clause (i)(II) shall be allocated among all such plans, as provided in regulations prescribed by the Secretary, for purposes of applying clause (i). (iii) Treatment of remaining amount The portion of the employee's interest distributed under clause (i) shall not be taken into account for purposes of determining the rapidity or the method of distribution of any portion of the interest of the employee to which clause (i) does not apply. (iv) Multiple beneficiaries In the case of an employee who has more than 1 beneficiary, the amount of the portion required to be distributed under clause (i) which shall be treated as payable to (or for the benefit of) such beneficiary is the amount which bears the same ratio to the total amount of such portion as— (I) the portion of the employee's entire interest (determined as of the date of the employee's death) which is payable to (or for the benefit of) such beneficiary, bears to (II) the amount of the employee's entire interest (so determined). (v) Exception for eligible designated beneficiaries If— (I) any portion of the employee's interest is payable to (or for the benefit of) an eligible designated beneficiary, (II) such portion will be distributed (in accordance with regulations) over the life of such eligible designated beneficiary (or over a period not extending beyond the life expectancy of such beneficiary), and (III) such distributions begin not later than 1 year after the date of the employee's death or such later date as the Secretary may by regulations prescribe, for purposes of clause (i), the portion referred to in subclause (I) shall be treated as distributed on the date on which such distributions begin. (vi) Special rule for surviving spouse of employee If the eligible designated beneficiary is the surviving spouse of the employee— (I) the date on which the distributions are required to begin under clause (v)(III) shall not be earlier than the date on which the employee would have attained age 70 1/2 , and (II) if the surviving