Incidental Benefits Sample Clauses

Incidental Benefits. In determining the minimum distributions during the Participant’s lifetime for years in which minimum distributions are required under Section 9.5, if the Participant’s benefit is distributed other than as a single life annuity and if the Participant has a Beneficiary other than his spouse, in no event shall the divisor specified in Section 9.5(a) exceed the divisor specified in Treasury Regulations under section 401(a)(9) of the Code applicable for the incidental benefit requirement. If the Participant’s Account is used to purchase an annuity contract (other than a single life annuity) from an insurance company in order to provide the Participant’s benefit, the maximum period certain and the maximum survivor annuity permissible in the case of a non-spouse Beneficiary, shall be determined in accordance with Treasury Regulations under section 401(a)(9) of the Code. In the case of a change in Beneficiaries the minimum distributions required shall be determined in accordance with applicable Treasury Regulations under section 401(a)(9) of the Code.

Incidental Benefits. Certain death benefits may be considered incidental benefits under a tax qualified Plan, which are limited under the Code. Failure to satisfy these limitations may have adverse tax consequences to the Plan and to the Participant. Where otherwise permitted to be offered under Annuity contracts issued in connection with qualified Plans, the amount of life insurance is limited under the incidental death benefit rules. You should consult your own tax advisor prior to purchase of the Contract under any type of 403(b) arrangement or qualified Plan as a violation of these requirements could result in adverse tax consequences to the Plan and to the Participant including current taxation of amounts under the Contract. TAX-SHELTERED ANNUITIES (ERISA AND NON-ERISA) -- 403(B) GENERAL Tax Sheltered Annuities fall under Section 403(b) of the Code ("403(b) arrangements"), which provides certain tax benefits to eligible employees of public school systems and organizations that are tax exempt under Section 501(c)(3) of the Code. In general contributions to 403(b) arrangements are subject to contribution limitations under Section 415(c) of the Code (the lesser of 100% of includable compensation or the applicable limit for the year). On July 26, 2007, final 403(b) regulations were issued by the U.S. Treasury which will impact how we administer Your 403(b) Contract. In order to satisfy the 403(b) final regulations and prevent Your Contract from being subject to adverse tax consequences including potential penalties, contract exchanges after September 24, 2007 must, at minimum, meet the following requirements: (1) the Plan must allow the exchange, (2) the exchange must not result in a reduction in the Participant or Beneficiary's accumulated benefit, (3) the receiving contract includes distribution restrictions that are no less stringent that those imposed on the contract being exchanged, and (4) the employer enters into an agreement with the issuer of the receiving contract to provide information to enable the contract provider to comply with Code requirements. Such information would include details concerning severance from employment, hardship withdrawals, loans and tax basis. You should consult Your tax or legal counsel for any advice relating to contract exchanges or any other matter relating to these regulations.

Incidental Benefits. 22 TSAs (▇▇▇▇▇ and non-ERISA) -- 403(b). 23 Plans. 25 25 Additional Puerto Rico Tax Considerations............................. 25 Information Incorporated by Reference. 27 28 Independent Registered Public Accounting Firm......................... 28 Appendix A: Information Concerning - In this prospectus, the following terms have the indicated meanings: ACCUMULATION PERIOD -- The period before the commencement of Annuity Payments. ANNUITANT -- A person on whose life the Maturity Date depends and Annuity Payments are made. ANNUITY -- Payment of income for a stated period or amount. ANNUITY PAYMENTS -- A series of periodic payments (a) for life; (b) for life with a minimum number of payments; (c) for the joint lifetime of the Annuitant and another person, and thereafter during the lifetime of the survivor; or (d) for a fixed period. ANNUITY PERIOD -- The period during which Annuity Payments are made. APPROVED PRODUCTS -- Products approved by the MetLife Insurance Company of Connecticut. BENEFICIARY (IES) -- The person(s) or trustee designated to receive any remaining contractual benefits in the event of a Participant's, ▇▇▇▇▇▇▇▇▇'s or Contract Owner's death, as applicable. CASH SURRENDER VALUE -- The Cash Value less any amounts deducted upon a withdrawal or surrender, outstanding loans, if available under the Contract, any applicable Premium Taxes or other surrender charges not previously deducted. CASH VALUE -- The value of net Purchase Payments in Your Account or a Participant's Individual Account less surrenders, plus interest, sometimes referred to as Account Value. CODE -- The Internal Revenue Code of 1986, as amended, and all related laws and regulations, which are in effect during the term of this Contract. COMPANY (WE, US, OUR) -- MetLife Insurance Company of Connecticut. COMPETING FUND -- Any investment option under the Plan, which in our opinion, consists primarily of fixed income securities and/or money market instruments. CONTRACT DATE -- The date on which the Contract is issued. For certain group Contracts, it is the date on which the Contract becomes effective, as shown on the specifications page of the Contract.

Incidental Benefits. (a) Pre-1989. For calendar years beginning before 1989 (and for annuity contracts distributed before 1989) either the requirements in (b) below must be satisfied or the cost or present value of the payments to be made to a Participant shall be more than 50 percent of the present value of the total payments to be made to such Participant and his beneficiary unless each periodic payment to his beneficiary will be no greater than each payment to such Participant during his lifetime and the payment of survivor benefits to such beneficiary will be limited to the period over which such Participant's spouse survives him. (b) Post-1988. For calendar years beginning after 1988, (excluding annuity contracts distributed before 1989), in determining the minimum distributions during the Participant's lifetime for years in which minimum distributions are required under Section 8.5, if the Participant's benefit is distributed other than as a single life annuity and if the participant has a Beneficiary other than his spouse, in no event shall the divisor specified in section 8.5 (a) exceed the divisor specified in Treasury Regulations under section 401(a)(9) of the Code applicable for the incidental benefit requirement. If the Participant's Account is used to purchase an annuity contract (other than a single life annuity) from an insurance company in order to provide the Participant's benefit, the maximum period certain and the maximum survivor annuity permissible in the case of a non-spouse Beneficiary, shall be determined in accordance with Treasury Regulations under section 401(a)(9) of the Code. In the case of a change in Beneficiaries the minimum distributions required shall be determined in accordance with applicable Treasury Regulations under section 401(a)(9) of the Code.

Incidental Benefits. The Employer shall provide life insurance coverage for the Employee in the face amount of $500,000, dues for an appropriate club and a covered parking space.

Incidental Benefits. Incidental benefits customarily paid to or on behalf of senior executives of the Company or appropriate for a departing Chairman and Chief Executive Officer with many years of successful service to the Company may be paid during the Transition Period and on the Retirement Date in the discretion of the Committee or the new Chief Executive Officer of the Company, such incidental benefits not to exceed in the aggregate Seventy-Five Thousand Dollars ($75,000.00).