JOINT AND SURVIVOR Sample Clauses

JOINT AND SURVIVOR. An annuity payable monthly while both the Annuitant and a designated second person are living. Upon the death of either person, the monthly annuity payments will continue during the lifetime of the survivor at either the full amount previously payable or as a percentage (either one-half or two-thirds) of the full amount, as chosen at the time of election of the income option. If a reduced annuity payment to the survivor is desired, variable annuity payments will be determined using either one-half or two-thirds of the number of each type of Annuity Unit credited. Fixed annuity payments will be equal to either one-half or two-thirds of the fixed annuity payment payable during the joint life of the Annuitant and the designated second person. VA340NY 20 Annuity payments terminate automatically and immediately upon the death of the surviving person without regard to the number or total amount of payments received. There is no minimum number of fixed annuity payments, and it is possible to have only one monthly annuity payment if both the Annuitant and the designated second person die before the due date of the second payment. If both Annuitants die after the Income Date but prior to the first annuity payment being paid, the amount applied to this income option will be paid to the Owner or the Owner's Beneficiary(ies). OPTION 3 - LIFE ANNUITY WITH 120 OR 240 MONTHLY PERIODS GUARANTEED. An annuity payable monthly during the lifetime of the Annuitant with the guarantee that if, at the death of the Annuitant, payments have been made for fewer than the guaranteed 120 or 240 monthly periods, as elected, the balance of the guaranteed number of payments will continue to be made to the Owner as scheduled. In the event the Owner dies before the specified number of guaranteed payments has been made, the Beneficiary(ies) may elect to continue receiving the fixed and variable payments according to the terms of this Contract or may alternatively elect to receive the present value of any remaining guaranteed payments in a single lump-sum, the amount of which is calculated by the Company. The present value of any remaining guaranteed payments will be based on the total annuity payment as of the date of the calculation.

JOINT AND SURVIVOR. Life — Periodic payments are made to the designated payee during the lifetime of the Primary Annuitant. After the death of the Primary Annuitant, periodic payments are based on the life of the secondary Annuitant named in the election if and so long as such secondary Annuitant lives. Payments made based on the life of the secondary Annuitant may be in installments equal to 50%, 66-2/3% or 100% (as specified in the election) of the original payment amount payable during the lifetime of the Primary Annuitant. If you elect a reduced payment based on the life of the secondary Annuitant, fixed annuity payments will be equal to 50% or 66-2/3% of the original fixed payment payable during the lifetime of the Primary Annuitant. Variable annuity payments will be determined using 50% or 66-2/3%, as applicable, of the number of Annuity Units for each Subaccount credited to the Contract. Payments stop when both Annuixxxxx xxxx died.

JOINT AND SURVIVOR. The Joint and Survivor option is applicable in the event of the death of an employee who has at least ten (10) years of credited service. It will be paid as of the employee’s normal or early retirement date at the Survivor’s option. An Employee shall have ninety (90) days after they have a Spouse who qualifies to apply for a Joint and Survivor Pension.

JOINT AND SURVIVOR. You may choose to receive a pension payable for your lifetime with all or part of it continuing to your survivor after death. This amount of pension is usually less than the amount of the normal form of pension because it is guaranteed over two lifetimes.

JOINT AND SURVIVOR. If you have a spouse at the date your pension begins, by law, you must provide a joint and survivor pension of at least 60% of your reduced pension is continued to the spouse after your death. You may choose other options only if both you and your spouse sign the required waiver form.

JOINT AND SURVIVOR. PAn~ion The retired member is paid a reduced pension for life under Option II. Upon the death of the retired member during the .lifetime of tne named survivor pension beneficiary, as defined in the City Charter, Chapter 17.18 (a), the named survivor pension beneficiary is paid the full amount of the reduced pension until death. Upon the death of the named survivor pension beneficiary during the lifetime of the retired member the amount of pension shall be changed to the amount that would have been payable had the retired member elected to be paid a straight life pension.‌

JOINT AND SURVIVOR. Periodic annuity benefit payments during the joint lifetime of the joint Annuitants. For variable options, after the first death, the number of units in each payment during the lifetime of the survivor is equal to the total number of units multiplied by the Survivor Annuity Benefit Percentage. For fixed options, after the first death, the dollar amount of each payment during the lifetime of the survivor is equal to the dollar value of each payment paid prior to such death multiplied by the Survivor Annuity Benefit Percentage.

JOINT AND SURVIVOR. Annuity means an immediate annuity for the life of the Participant with a survivor annuity for the life of the Spouse that is not less than 50% (and not more than 100%) of the amount that is payable during the joint lives of the Participant and Spouse and is the actuarial equivalent of a single life annuity for the life of the Participant (also defined as the amount of benefit which can be purchased with the Participant’s vested Account Balance). This annuity may not be terminated or reduced because of the Surviving Spouse’s remarriage. The percentage of the survivor annuity under the Plan shall be 50% (unless a different percentage is elected by the Employer in the Adoption Agreement).

JOINT AND SURVIVOR. Income We will pay an income during the lifetime of two persons and will continue to pay the same income as long as either person is living. The minimum guaranteed payment period will be ten years. The amount of each payment is shown in Table C. If the payout rates in use by us at the time proceeds become payable are more favorable than those shown in options 4 and 5, we will provide a life income using the more favorable rates.