DEATH PAYMENTS. 300 3.3 Transfers between Related Contracts . . . . . . . . 310 3.4
DEATH PAYMENTS. If a Participant dies before his Participant's Account has been cancelled, the dollar value will be paid to his Beneficiary (see section 7.6). The payment will be made in one sum unless the Participant has directed Prudential to purchase an annuity for the Beneficiary. Instead of a one sum payment, the Beneficiary may elect to have the dollar value of the Participant's Account applied to purchase an annuity. A one sum payment will be made on the fifth anniversary of the Participant's death if no other election has been made by then. However, proof of the Participant's death must be received by Prudential before any payment will be made. GVA-1000 Serial 300 3.1-3.2 5/87 The annuity form may be any of those described in section 4.4. If annuity payments are to start at a future date, the Participant's Account will be maintained for the Beneficiary in the same manner as for the Participant. The date for payments to start must be on or before the fifth anniversary of the Participant's death. No contributions may be made to the Account after the Participant's death. If a one sum payment is made to the Beneficiary within one year of the Participant's death, it will be at least equal to the contributions made for him under this contract less any withdrawals and transfers. As of the first day no amounts remain in the Participant's Account or in an Account for the Beneficiary under a companion contract, the Participant's Account is cancelled. Section 3.1 does not apply.
DEATH PAYMENTS. Upon the death of a employee who has been on pay status at least 50% time at least six continuous months prior to death a sum equal to the deceased's regular salary for one month shall be paid to the deceased's spouse, or if there is no spouse, to the employee's eligible dependent(s), or if there is neither a surviving spouse nor eligible dependent(s), to the beneficiary designated in the deceased's University-paid life insurance policy. All monies due and payable to the employee at the time of death shall be paid to the employee's surviving spouse and/or eligible dependent(s).
DEATH PAYMENTS. If a Participant dies before his Participant's Account has been cancelled, the dollar value will be paid to his Beneficiary (see section 7.6.). Proof of the Participant's death must be received by Prudential before any payment will be made. Death benefits payable under the contract to a Participant's Beneficiary prior to the date (i) on which an annuity has been purchased for the Participant or (ii) on which minimum distributions have commenced to the Participant pursuant to Code Section 401(a)(9) will be paid as set forth in this section 3.2. Death benefits payable under the contract to a Participant's Beneficiary after the date on which an annuity has been purchased or on which minimum distributions have commenced to the Participant pursuant to Code section 401(a) (9) will be paid as set forth in section 4.1. of the contract. The Beneficiary may elect payment in any of the following forms, unless the Participant has directed otherwise or unless the Plan, if any, provides otherwise:
DEATH PAYMENTS. If a Participant dies before his Participant's Accounts has been cancelled, the dollar value will be paid to his Beneficiary (see section 7.6). If the Beneficiary is other than the Participant's spouse, the payment will be made in one sum within 5 years of the Participant's death unless the Participant has directed Prudential to purchase an annuity for the Beneficiary. If the Participant's spouse is the Beneficiary, the payment will be made in one sum no later than the latest date on which the spouse is permitted to defer the distribution under law unless the GVA-120-87 (10/11) Serial 300 3.1-3.2 Participant has directed Prudential to purchase an annuity for the spouse. Instead of a one sum payment, the Beneficiary may elect to have the dollar value of the Participant's Account applied to purchase an annuity. Proof of the Participant's death must be received by Prudential before any payment will be made. Any payment made pursuant to this section must be consistent with the terms of the Plan, if any. The Beneficiary's annuity election must be made before the Participant's Account is distributed. The annuity form may be any of those described in section 4.4. If annuity payments are to start at a future date, the Participant's Account will be maintained for the Beneficiary in the same manner as for the Participant. The date for payments to start must be on or before the latest date on which the Beneficiary is permitted to defer the distribution under law. No contributions may be made to the Account after the Participant's death. If a one sum payment is made to the Beneficiary within one year of the Participant's death, it will be at least equal to the contributions made for him under this contract less any withdrawals and transfers. Any annuity payments to a Beneficiary will be subject to the following:
DEATH PAYMENTS. If a Participant dies before his Participant's Account has been cancelled, the dollar value will be paid to his Beneficiary (see section 7.6). The payment will be made in one sum unless the Participant has directed Prudential to purchase an annuity for the Beneficiary. Instead of a one sum payment, the Beneficiary may elect to have the dollar value of the Participant's Account applied to purchase an annuity. Proof of the Participant's death must be received by Prudential before any payment will be made. GVA-120-82 Serial 300 3.1-3.2
DEATH PAYMENTS. If a Participant dies before his Participant's Accounts have been cancelled, the dollar value will be paid to the Contract-Holder. The payment will be made in one sum unless the Contract-Holder directs Prudential to purchase an annuity for the Participant's beneficiary pursuant to the Plan. However, the Contract-Holder will retain all rights with respect to the annuity. Proof of the Participant's death must be received by Prudential before any payment will be made. GVA-1010 Serial 300 3.1-3.2 5/87 The annuity form may be any of those described in section 4.4. No contributions may be made to the Account after the Participant's death. If a one sum payment is made on the Plan beneficiary's behalf within one year of the Participant's death, it will be at least equal to the contributions made for him under this contract less any withdrawals and transfers.
DEATH PAYMENTS. If a Participant dies before his Participant's Accounts have been cancelled, the dollar value will be paid to the Contract-Holder. The payment will be made in one sum unless the Contract-Holder directs Prudential to purchase an annuity for the Participant's beneficiary pursuant to the Plan. However, the Contract-Holder will retain all rights with respect to the annuity. Proof of the Participant's death must be received by Prudential before any payment will be made. GVA-1010-87 (24) Serial 300 3.1-3.2 The annuity form may be any of those described in section 4.4. No contributions may be made to any of the Participant's Accounts after the Participant's death. If a one sum payment is made on the Plan beneficiary's behalf within one year of the Participant's death, it will be at least equal to the contributions made for him under this contract less any withdrawals and transfers. As of the first day no amounts remain in the any of the Participant's Accounts hereunder or in an Account with respect to the Participant under a companion contract, the Participant's Accounts are cancelled. Section 3.1 does not apply.
DEATH PAYMENTS. Effective January 1, 1987, death benefits payable under the Contracts on behalf of the Participant's Beneficiary prior to the date on which distributions have commenced for the Participant pursuant to item 4. below, will be paid as set forth in this item 2. Death benefits payable under the Contracts on behalf of the Participant's Beneficiary on or after the date on which distributions have commenced for the Participant pursuant to item 4. below will be paid as set forth in item 4. below. The Beneficiary may elect payment in any of the following forms, unless the Participant has directed otherwise or unless the Plan provides otherwise:
DEATH PAYMENTS. A. Upon the death of an eligible employee of the University, the University shall pay a sum equal to the deceased's regular salary for one (1) month to the person or persons in the first of the following categories in which there is a survivor: legal spouse or domestic partner; child or children; parent or parents; or siblings. If there is no survivor in any of the foregoing categories, the benefit will be paid to the estate, or if there is no estate, to the beneficiary designated in the deceased's University-paid life insurance policy. All monies due and payable to the employee at the time of death shall be paid to the employee's surviving spouse or domestic partner and/or eligible dependent(s), pursuant to the University Accounting Manual.
