Alternative Annuity Sample Clauses
The Alternative Annuity clause defines an option for parties to select a different annuity structure than the standard one provided in an agreement. This clause typically outlines the conditions under which an alternative annuity may be chosen, such as specifying different payment amounts, frequencies, or durations, and may require mutual consent or notice to exercise the option. Its core practical function is to provide flexibility in how annuity payments are structured, allowing parties to tailor financial arrangements to better suit their needs or changing circumstances.
Alternative Annuity. See Section 6.03(A)(5).
Alternative Annuity. See Section 6.03(A)(5). [Note: Under a Plan which is subject to the joint and survivor annuity distribution requirements of Section 6.04 (Election 50(b)), the Employer may elect under 48(d) to offer one or more additional annuities (Alternative Annuity) to the Plan's QJSA or QPSA. If the Employer elects under Election 50(a) to exempt Exempt Participants from the joint and survivor annuity requirements, the Employer should not elect to provide an Alternative Annuity under 48(d).]