Common use of Beneficiary election Clause in Contracts

Beneficiary election. Permits a Beneficiary following the Participant’s death to make change payment elections. ☐ (iv) (Specify): _________________________________ (e.g., a Beneficiary may make a change payment election only if the Participant had the right to do so, OR a Participant may make a change payment election only after attaining age 60). (c) Limit on number of change payment elections. The number of change payment elections (as to any initial payment election) that a Participant, a Beneficiary or the Employer (as applicable) may make is (choose one of (i) or (ii)):

Beneficiary election. Permits a Beneficiary following the Participant’s death to make change payment elections. ☐ [ ] (iv) (Specifyiv)(Specify): _________________________________ (e.g., a Beneficiary may make a change payment election only if the Participant had the right to do so, OR a Participant may make a change payment election only after attaining age 60). (c) Limit on number of change payment elections. The number of change payment elections (as to any initial payment election) that a Participant, a Beneficiary or the Employer (as applicable) may make is (choose one of (i) or (ii)):

Beneficiary election. Permits a Beneficiary following the Participant’s death to make change payment elections. ☐ (iv) (Specify): ):___________________________________________ (e.g., a Beneficiary may make a change payment election only if the Participant had the right to do so, OR a Participant may make a change payment election only after attaining age 60). (c) Limit on number of change payment elections. The number of change payment elections (as to any initial payment election) that a Participant, a Beneficiary or the Employer (as applicable) may make is (choose one of (i) or (ii)):